GOP response to $100 billion in damage? Tax cuts!
Amazing, but true. I wrote yesterday that Bill Frist had decided that repealing the estate tax would look a bit too tasteless while the streets of New Orleans are choked with thousands of rotting corpses. But even as estimates of the damage caused by last week's hurricane continue to climb-- as high as $150 billion now-- and with spending on Iraq well over $200 billion with no sign of slowing down, and with an unprecedented budget deficit, etc., etc., the Republican party has decided that $70 billion in tax cuts are definitely the answer.
House and Senate lawmakers said they will proceed with a package of $70 billion in tax cuts and $35 billion in entitlement spending cuts, including as much as $10 billion out of a Medicaid program they simultaneously were suggesting expanding.
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