Those interested in Budget discussions should read their take on making the 2001, 2002, 2003 Tax Cuts permanent. The serious flaw in the Key Points article is the lack of evaluation about the rate of growth of Government spending. Their estimates are sound, if the Government spending stays within very conservative estimates, which the Bush administration is not noted for. Here are the areas where this Author sees radical underestimation of Government spending. Homeland Security will cost at least $20b more than any projected estimates each year. Iraq Occupation will cost an estimated $85b per year, and Afghani/Paki military operations will cost $35b per year. Singular military expenditures, for raising and maintaining an enlarged military force, will cost an additional $8b per year, with $2b additional per year for Disability payments to the wounded and family dependents of the Dead.
The Above were the untouchable costs, as claimed by the Bush White House, otherwise meaning meaning no one is supposed to complain about an annual 12% increase of expenditure per year in these areas. Now to the Politics of Pork Barrel:
The "No Child Left Behind' Act will have to be amended, to return funding to School Systems, else both Republican and Democrat can expect to be voted out--cost $12b per year. The Bush goal of elimination of the AMT(his real desire), will take about 4 million upper-Income taxpayers completely off the tax rolls. This will add about $172b per year, not a stupidly ascribed total cost until 2014. States, at least Five, will need some kind of Bailout--to the tune of $40b.
The Brookings Key Points imagine Government spending will remain relatively stable. Their $2.4 trillion additional debt in 2014 does not include an additional Trillion dollars of acquired debt by Y2006. This would edge the total acquired debt to over $4t in 2014, $6t if the AMT is completely removed; this latter data only remotely conclusive, unless Government spending increase can eventually reduce to zero by Y2009--used because We will be rid of George W. Bush no matter what! lgl
