The one thing you have to be careful of when you listen to political speeches is to not allow yourself to be bowled over with the "big number effect". When a politician talks about how wonderful X-massive-number-of-dollars is, remember to think about other numbers that the same politician would not want his wonderful X number put next to:
To paraphrase George Bush in the SOTU tonight: "We cut $40 billion in spending out of the budget. Isn't that awesome?"
Fine: That means you've got about 7 months of the war in Iraq paid for. You now have enough to cover half the bill for the Katrina disaster. You're 10% of the way to balancing the budget. You've made up about 5% of the annual revenue lost from your tax cuts.
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1 comment:
I am confused, are you not in favor of the tax cuts?
Yes, the benifit the rich more (they make more money) but a tax cut is a tax cut.
No matter how much excess the goverment has in money, they still mismanage it.
Taxes were higher for me during the Clinton years and I never recieved a rebate check.
Don't get me wrong, I am not a fan of Brokeback Washington but I do agree with his tax cuts.
..and that's about it.
Good blog, by the way
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