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The Bush campaign, however, would have had no problem finding families of four<br />

making between $350,000 and $700,000 who got a bigger tax cut under Bush's plan than under<br />

Gore's. In that income range, <strong>the</strong>y all did.<br />

_____________________<br />

There's a new sheriff in town, and he's dedicated to fiscal discipline.<br />

-Ari Fleischer, of President George W. Bush,<br />

October 18, 2002<br />

The rationale for Bush's tax cuts was that, with a $4.6 trillion projected surplus, "I think it's<br />

fair, I think it's right that one quarter of <strong>the</strong> surplus go back to <strong>the</strong> people who pay <strong>the</strong> bills."<br />

(Not to quibble, but his tax cut was more than a third of <strong>the</strong> surplus. He was $450 billion off,<br />

enough to pay for all nonmilitary discretionary spending for a year.)<br />

So, when we were expecting huge surpluses, Bush argued that it was our money, and<br />

if <strong>the</strong> government was taking more than it needed, we deserved to get some of it back. Specifically,<br />

we needed a $1.6 trillion tax cut, heavily tilted toward <strong>the</strong> wealthy.<br />

But once evidence began to emerge that <strong>the</strong> economy was sputtering and <strong>the</strong> surplus<br />

was shrinking, this rationale no longer applied. There were new economic problems that<br />

needed new solutions. How could <strong>the</strong> economy be jump-started? Bush met with his top economic<br />

advisors and came back with an innovative answer: a $1.6 trillion tax cut, heavily<br />

tilted toward <strong>the</strong> wealthy.<br />

It soon became apparent that we were headed back to deficit country. How would<br />

America's new fiscal discipline sheriff explain to <strong>the</strong> nation that he'd have to break his campaign<br />

promise never to go into deficit? The answer came on September 11, when terrorists<br />

struck <strong>the</strong> World Trade Center and <strong>the</strong> Pentagon, creating a national emergency and necessitating<br />

a war.<br />

Not only did <strong>the</strong> tragedy provide a justification for deficit spending, it gave Bush a reliable<br />

laugh line for his speeches. Here's <strong>the</strong> joke. This is from a June 7, 2002, speech in<br />

Iowa. But he's told it on at least thirteen different occasions.<br />

I remember campaigning in Chicago and one of <strong>the</strong> reporters said, "Would you<br />

ever deficit spend?" I said, "Only – only—in times of war, in times of economic insecurity<br />

as a result of a recession, or in times of national emergency." Never did I<br />

dream we'd have a trifecta.

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