By William W. Beach
All of the press commentary on President George W. Bush's 2007 budget proposal has paid virtually no attention to one of its most significant initiatives. And it is no wonder: how could a move to improve the way the government analyzes tax policy compete with cutting outdated programs, making the United States more competitive, and winning the global war on terrorism?
This little-noted initiative, however, may be historically important. Buried deep in the President's proposals for the Department of the Treasury is a plan to create a Dynamic Analysis Division within the Treasury's Office of Tax Analysis. This division would advise the President and other key policymakers on how proposed changes to U.S. tax policy would affect economic activity. Inside the Beltway, this type of analysis is called "dynamic scoring." Outside the Beltway, this is called "economics."
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O yes, I am paying attention.
This article is so much bullshit, I don’t believe it. This is some more of that think tank crap. You want to cut programs like Medicare, Medicaid, Social Security, Student Loans, Education, Transportation, Agriculture, etc. What about the corruption in Washington? If the corruption in Washington was cleaned up we could save trillions. So don’t try and tell me that Medicare, Medicaid, Social Security, Student Loans, Education, Transportation, Agriculture are the problems. You are the problem, you lying neo-con gangster corrupt politicians. We need to deal with you first! You want to analyze something Mr. Beach, analyze the corruption in Washington then we will talk about Dynamic Scoring!
Who will feel budget's impact?
Bush Wednesday signs bill with $39 billion in cuts. His 2007 budget would point to more cuts ahead.
With President Bush's signature Wednesday, Medicaid recipients can expect higher copayments and deductibles. College students may face higher interest rates on student loans, as lenders are squeezed. Work requirements for women on welfare are likely to be tightened. Federal aid to states for child-support enforcement will be curtailed.
All told, the US government will save $39 billion over the next five years under the Deficit Reduction Omnibus Reconciliation Act of 2005. The legislation is the first in a decade to rein in the growth of entitlement programs. And, along with a plan for $70 billion in tax cuts moving through Congress, it provides the backdrop to a fierce debate over government priorities with the unveiling this week of Mr. Bush's budget proposal for fiscal year 2007.
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