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Dec. 12, 2003 | WASHINGTON (AP) -- President Bush's budget for the coming election year will chart a course for cutting federal deficits in half within the next five years, a top White House budget official said Friday.
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The president's economic growth policies will consist "primarily'' of proposing again that tax cuts first enacted in 2001 be made permanent, instead of expiring as this decade ends, Kaplan said. That could cost $1.4 trillion over the next 10 years, according to congressional budget analysts.
CBO projections make this promise "barely" possible, but hideously unlikely. Throw in the other inevitable changes and the budget is busted. But, it's brilliant politics - tax cuts during an election year.
