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

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.

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