President Bush seems poised to wreck America's budget for years to come. When Bush came into office, the outlook was for budget surpluses as far as the eye could see. Today, through a combination of irresponsible Republican-led tax cuts, a slowing economy, the bursting of the stock market bubble, and a massive increase in defense spending, huge deficits dominate the fiscal horizon.
President Bush seems poised to wreck America's budget for years to come. When Bush came into office, the outlook was for budget surpluses as far as the eye could see. Today, through a combination of irresponsible Republican-led tax cuts, a slowing economy, the bursting of the stock market bubble, and a massive increase in defense spending, huge deficits dominate the fiscal horizon.