{"id":10978,"date":"2008-02-05T09:01:45","date_gmt":"2008-02-05T15:01:45","guid":{"rendered":"http:\/\/proteinwisdom.com\/?p=10978"},"modified":"2008-02-05T09:01:45","modified_gmt":"2008-02-05T15:01:45","slug":"wsj-on-the-stimulus-deficit-dan-collins","status":"publish","type":"post","link":"https:\/\/proteinwisdom.com\/?p=10978","title":{"rendered":"WSJ on the Stimulus Deficit [Dan Collins]"},"content":{"rendered":"

Hey, baby: Want to see my stimulus package<\/a>?<\/p>\n

This is the latest in the Administration’s history of turning “record surpluses into record deficits,” declared Majority Leader Harry Reid, while Senate Budget Chairman Kent Conrad warned about “more deficit-financed tax cuts tilted to benefit the wealthiest.”\u00c3\u201a\u00c2\u00a0<\/p>\n

Lost amid the faux political outrage is the direct role that these worthies are playing in creating this larger deficit, thanks to the bipartisan $150 billion “stimulus.” This non-stimulating stimulus will largely take the form of tax rebates and credits that will do little to change economic incentives. Thus they will result in a nearly dollar-for-dollar revenue loss to the Treasury, expanding a deficit that was already going to climb to $219 billion thanks to slower economic growth and faster spending.<\/p>\n

Let’s hope Republicans appreciate the irony, because no doubt Democrats do. By signing on to a bigger deficit for the sake of election-year stimulus, Mr. Bush is making it easier for Democrats to wave the red ink as an excuse to justify repealing his 2001 and 2003 tax cuts next year.\u00c3\u201a\u00c2\u00a0\u00c3\u201a\u00c2\u00a0<\/p><\/blockquote>\n

Here’s a place<\/a> where you can fax your Congresscritters to ask that they vote against permitting as many as 3 million illegal aliens to collect as much as $600 apiece in tax “rebates.” Do you suppose that that would be regarded as foreign aid by UNESCO?<\/p>\n

Check out Bret Stephens on “American Declinism<\/a>,” as well.<\/p>\n","protected":false},"excerpt":{"rendered":"

Hey, baby: Want to see my stimulus package? This is the latest in the Administration’s history of turning “record surpluses into record deficits,” declared Majority Leader Harry Reid, while Senate Budget Chairman Kent Conrad warned about “more deficit-financed tax cuts tilted to benefit the wealthiest.”\u00c3\u201a\u00c2\u00a0 Lost amid the faux political outrage is the direct role that these worthies are playing in creating this larger deficit, thanks to the bipartisan $150<\/p>\n

Read More<\/a><\/div>\n","protected":false},"author":587,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-10978","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/proteinwisdom.com\/index.php?rest_route=\/wp\/v2\/posts\/10978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/proteinwisdom.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/proteinwisdom.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/proteinwisdom.com\/index.php?rest_route=\/wp\/v2\/users\/587"}],"replies":[{"embeddable":true,"href":"https:\/\/proteinwisdom.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10978"}],"version-history":[{"count":0,"href":"https:\/\/proteinwisdom.com\/index.php?rest_route=\/wp\/v2\/posts\/10978\/revisions"}],"wp:attachment":[{"href":"https:\/\/proteinwisdom.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/proteinwisdom.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/proteinwisdom.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}