Bush Catapults The Tax Cut Propaganda Again

From Nothing to fear but nonsense itself by Steve Benen:

To hear Bush tell it, the economic anxiety Americans feel right now is somehow related to tax cuts that expire in 2011 — tax cuts that primarily don’t help the middle class or low-income families anyway.

In all seriousness, how many people who are worried about their families’ finances right now are going to say, “I’ve been really worried, but now that I know my tax rate will remain the same in 2011 as it is 2010, I’m feeling better again”? That, in essence, is what the president argued with a straight face this morning. The answer for economic angst now is maintenance of existing tax cuts three years from now.

The Liberal Media At Work

From CBS report on "mind-numbing" national debt made no mention of Republican-led Congress' years of deficit spending on Bush tax cuts, Iraq:

Further contributing to the national debt are the Bush tax cuts. According to a recent analysis by the Center on Budget and Policy Priorities (CBPP), based on Joint Committee on Taxation and Congressional Budget Office estimates: "Through fiscal year 2007 tax legislation enacted since 2001 has had a direct cost of $1.3 trillion." The CBPP analysis continued, "Because these tax cuts were not paid for, they are also generating substantial increases in the national debt. The additional debt now being built up will persist even if the tax cuts are allowed to expire on schedule."