"Only in the case of war, a recession, or a national emergency",
May 13, 2002 12:28 AM Subscribe
"Only in the case of war, a recession, or a national emergency", Bush promised during his 2000 campaign, would he ever enter deficit spending. He now repeatedly and rather mordidly jokes that he never imagined that he'd hit the "trifecta" by getting all three- perhaps to explain why we are now experiencing a $100 billion dollar deficit this year. One tiny problem: Bush never made this supposed campaign promise despite frequently claiming just such as thing, as Jonathan Chait of TNR notes in his recent column. These "special conditions" for deficit spending and depleting the Social Security surplus were spun out of thin air just last summer, and modified post- 9/11, as a necessary escape clause when the budget crunch hit.
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