FreedomTalks

President Bush is unveiling his budget today, saying that it is part of a plan to cut the deficit and create a surplus by 2012. We can at least applaud the administration’s stance on tax cuts, which OMB Director Rob Portman says should be made permanent.

Now if only we could get the President on board with cutting government programs and vastly reducing spending. This would cut down the deficit substantially and would ensure long-term economic growth. Well, maybe the next President will consider doing that.

Republicans hope to make the tax cuts a central feature of this year’s budget debate, the first in which Bush will present his request to a Democratic Congress. Both the White House and Democratic leaders have vowed to eliminate the federal deficit by 2012, but Democrats have signaled their intention to do it in part by targeting tax breaks for corporations and taxpayers earning more than $500,000 a year.

“We think it’s absolutely critical that they be extended in 2010, when they otherwise would expire. Why? Because they have contributed to this growing economy,” White House budget director Rob Portman said yesterday on CNN’s “Late Edition.”

This entry was posted on Monday, February 5th, 2007 at 9:43 am and is filed under Taxes, U.S. Budget. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.