For example, the Slickster claims he proposed a $100 billion tax cut. From what I heard, that $100 billion is spread out over seven years and 60% of it occurs in the last two years, long after Slick Willie would have left the picture.
That leaves $40 billion over a five year period, or $8 billion each year, assuming the Slick One doesn't delay even that until the fifth year. The USA has 250 million people, so that makes $8 billion divided by one quarter billion people, or $32 per person. For my DISC (dual income, single child), that comes to almost one dollar per paycheck (before taxes). Oh boy, I wonder which sector of the American economy I should stimulate with that!
$100 billion sounds like a lot. Deceptive, isn't it?
That aside, there are several other disturbing deceptions in this announcement. There is the obvious attempt to exaggerate the size of the cuts by giving the total over a seven-year period. Then there's the fantasy of making a budget commitment that will be honored at least one, and possibly two or three, administrations down the line. And there's the practice of using an unguaranteed, larger tax cut way down the road to bring up the apparent average so that we think we will benefit sooner than we really will.
All these deceptions incline me to oppose the president's proposed budget, but the ultimate deception, ironically, turned me into a supporter. I've implied that stating the tax cut for each year would be more honest. On the other hand, when you have a project, it makes sense to state budget elements as totals. It is common to hear the cost of a project from beginning to end stated. It is also common to hear an estimate the 'cost to complete.' For example, a pork-barrel manufacturing plant for suburban Little Rock was supposed to cost $50 million, but the cost-to-complete is estimated at $100 million. It makes sense because, assuming you don't put Federico Pena in charge, the project will, some day, be completed.
Therefore, I heartily endorse the Presidents' new budget. Since President Clinton is a man of integrity (snicker), I must give him the benefit of the doubt. His budget is honest, but in order to avoid crossing the special interests of the left, Bubba omitted that, by his estimation, in seven years, the Federal government will have reached its goals and will be disbanded.
Richard Wheeler
11 April 96
(8 May 1996)
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