If Mr. Bush were a genuine conservative, he might cut taxes, but he would cut spending to match. If he were an honest liberal, he might increase spending, and taxes as well. Instead, the president is inviting us out for a wild night on the town and leaving us — and our children — with the bill.
This passage, in particular, alarms me:
A new study from the Brookings Institution, “Restoring Fiscal Sanity,” estimates that by 2014 the average family’s income will be $1,800 lower because of slower economic growth caused by these budget deficits. A family with a 30-year $250,000 mortgage will be paying $2,000 more per year in interest costs alone.
