Wednesday, May 04, 2005

Stealing from children, by any other name

Those partisan pinkos over at the Cato Institute decry the Bush regime's out of control spending, fixing the blame in equal measure on the Congressional Republicans and Bush himself. These guys are probably one of the few groups on the right that realize that Bush's tax cuts, in the absence of spending cuts, aren't really tax cuts at all--they are just redistributions of wealth from later generations to the current one.

Despite Cheney's insousiance about how "deficits don't matter," it's Economics 1A that debts accumulated now will need to be compensated for later either by raising future taxes or by depreciating the currency (or, what amounts to the same thing, inducing inflation), or both.

1 comment:

Ed said...

Cato may be on the right, but they are decidedly libertarian. Libertarians are not the kinds of right wingers that GWB considers his base. They are allowed in the big tent of the GOP, but they have not been setting the agenda. Just look at the Schaivo case.