{"id":8038,"date":"2006-07-26T13:40:58","date_gmt":"2006-07-26T17:40:58","guid":{"rendered":"http:\/\/www.thecarpetbaggerreport.com\/archives\/8038.html"},"modified":"2006-07-26T13:40:58","modified_gmt":"2006-07-26T17:40:58","slug":"bushs-treasury-department-goes-off-message-again","status":"publish","type":"post","link":"https:\/\/stevebenen.com\/thecarpetbaggerreport\/bushs-treasury-department-goes-off-message-again\/","title":{"rendered":"Bush&#8217;s Treasury Department goes off-message &#8212; again"},"content":{"rendered":"<p>Two weeks ago, a [tag]Treasury[\/tag] Department report made clear what was already pretty obvious: &#8220;tax cuts <a href=\"http:\/\/www.cbpp.org\/7-11-06bud.htm\">do not come remotely close<\/a> to paying for themselves.&#8221; Yesterday, Treasury undermined the administration&#8217;s message on [tag]tax cuts[\/tag] again, this time reporting that &#8212; surprise, surprise &#8212; the cuts have <a href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2006\/07\/25\/AR2006072501543.html\">costly consequences<\/a>.<\/p>\n<blockquote><p>The federal government will need to either cut spending or raise taxes down the road to pay for extending [tag]President[\/tag] [tag]Bush[\/tag]&#8217;s recent tax cuts, the Treasury Department said in a report released yesterday, dismissing the idea popular with many Republicans that such sacrifices can be avoided. [&#8230;]<\/p>\n<p>[T]he Treasury&#8217;s view reflects &#8220;a recognition the federal government has to finance the tax relief&#8221; to avoid a rise in government debt, Robert Carroll, deputy assistant secretary for tax analysis, said in an interview.<\/p>\n<p>The report stressed that the economic effects of extending the tax cuts &#8220;depend crucially on whether they are financed by lower [tag]spending[\/tag] or higher [tag]taxes[\/tag] in the future.&#8221;<\/p><\/blockquote>\n<p>Leonard Burman, a Treasury official in the [tag]Clinton[\/tag] [tag]administration[\/tag] and now the director of the Urban Institute&#8217;s and the Brookings Institution&#8217;s joint Tax Policy Center, said, &#8220;All of the hard questions are swept under the rug. We&#8217;ve increased spending and cut taxes, which is politically a very effective strategy. But in the long run, the effect on the economy is a disaster.&#8221;<\/p>\n<p>You don&#8217;t say.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two weeks ago, a [tag]Treasury[\/tag] Department report made clear what was already pretty obvious: &#8220;tax cuts do not come remotely close to paying for themselves.&#8221; Yesterday, Treasury undermined the administration&#8217;s message on [tag]tax cuts[\/tag] again, this time reporting that &#8212; surprise, surprise &#8212; the cuts have costly consequences. The federal government will need to either [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[617],"tags":[],"class_list":["post-8038","post","type-post","status-publish","format-standard","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/stevebenen.com\/thecarpetbaggerreport\/wp-json\/wp\/v2\/posts\/8038","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stevebenen.com\/thecarpetbaggerreport\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stevebenen.com\/thecarpetbaggerreport\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stevebenen.com\/thecarpetbaggerreport\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/stevebenen.com\/thecarpetbaggerreport\/wp-json\/wp\/v2\/comments?post=8038"}],"version-history":[{"count":0,"href":"https:\/\/stevebenen.com\/thecarpetbaggerreport\/wp-json\/wp\/v2\/posts\/8038\/revisions"}],"wp:attachment":[{"href":"https:\/\/stevebenen.com\/thecarpetbaggerreport\/wp-json\/wp\/v2\/media?parent=8038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stevebenen.com\/thecarpetbaggerreport\/wp-json\/wp\/v2\/categories?post=8038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stevebenen.com\/thecarpetbaggerreport\/wp-json\/wp\/v2\/tags?post=8038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}