It's a Long, Long Way Back to Bill Clinton Balanced Budgets
Bush May Try to Cut Corporate Tax Rates
President Cites Need To Compete Globally
By Peter Baker
Washington Post Staff Writer Thursday, August 9, 2007; Page A01
President Bush said yesterday that he is considering a fresh plan to cut tax rates for U.S. corporations to make them more competitive around the world, an initiative that could further inflame a battle with the Democratic Congress over spending and taxes and help define the remainder of his tenure.
Advisers presented Bush with a series of ideas to restructure corporate taxes, possibly eliminating narrowly targeted breaks to pay for a broader, across-the-board rate cut. In an interview with a small group of journalists afterward, Bush said he was "inclined" to send a corporate tax package to Congress, although he expressed uncertainty about its political viability. _________________________________________________________________________
The president with no political viability announces a plan that we can only hope has none as well. There was a time--good god, can it only be six years ago?--when we had a president who was admired internationally and who produced budget surpluses that he used to pay down the national debt.
How quickly we forget.