The Washington Post is reporting on President Bush’s proposed budget.
President Bush’s budget blueprint would bring the federal government’s budget deficit under control by decade’s end. But to do that without raising taxes, the White House would need a sweeping tax reform that it has avoided proposing and a swift end to the war in Iraq.
The budget plan for fiscal 2007 underscores what budget analysts of all political stripes have been saying for years: The goals of balancing the budget, waging a global fight against terrorism and making Bush’s first-term tax cuts permanent may be fundamentally at odds.
Lightweight stuff. For me, the telling paragraph came down the page.
Those factors led Goldman Sachs economists to tell clients yesterday that the deficit forecasts are “unrealistic.”
Goldman Sachs economists are holding up three fingers to the White House and telling them to read between the lines.