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Matthew Hoy
By Matthew Hoy on January 29, 2002

The effort to link the Bush Administration continues, this time in a witty, but stupid column by the Washington Post's Richard Cohen entitled "Enronomics Explained."

The principle that the government can and should run a deficit to stimulate a sick economy was first propounded by John Maynard Keynes. This is called Keynesian Economics. The principle that the government can and should run a deficit when it does not have to was developed by George W. Bush. This is called Enronian Economics.

This is called a load of horse manure. What Cohen wants is to rollback the scheduled tax cuts. This alone will apparently cause the budget deficits to disappear. Not rolling the tax cuts back will apparently be the sole reason that deficits persist. Let's just ignore the general economic outlook or Congress' propensity to spend any money that finds its way to Washington on unnecessary programs, and even a lot of money that never made its way to Washington.

And so, as luck would have it, is the president's tax plan. He has managed, in a way that would make Kenny Boy green with envy, to make a projected $4 trillion budget surplus disappear. In this case, the money has not been parked in some offshore tax haven. Nosiree. Bush did it by giving tax breaks to the rich and the poor alike over a 10-year period.

Well, at least he admits that the poor get some tax breaks too.

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