Tax cuts don't pay for themselves | Bleader

Thursday, October 12, 2006

Tax cuts don't pay for themselves

Posted By on 10.12.06 at 11:52 AM

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On October 5, the chairman of President Bush's Council of Economic Advisers, Ed Lazear, told the Washington Times, "We do not say the tax cuts pay for themselves." (Hat tip to Brad DeLong's Semi-Daily Journal.)

Last night on American Public Media's "Marketplace" program, reporter Nancy Marshall Genzer reported on the deficit created by Lazear's boss: "President Bush says if Congress will make his tax cuts permanent, they'll boost the economy and help to reduce the deficit." She did not mention that the chief executive's own economist had publicly refused to eat this baloney.

It's not as though Genzer missed breaking news. Bush has been ignoring the fact that his tax cuts reduced government revenue -- according to his own experts -- since at least 2003, as documented by political scientist and blogger Brendan Nyhan (who quit writing for the American Prospect blog after editors complained he criticized too many liberals) in his ongoing series, "Bush vs. His Economists."

Bush is good at ignoring expert advice. It's good politics for him to do so, since the platform of starving and shrinking the government still doesn't command majority appeal. But what's in it for Nominally Public Radio and the rest of the media, that they allow this big lie from the Reagan era to live on unchallenged?

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