Word: surpluses
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...initial flaw in the president's plan is that it assumes the budgetary surplus will be as large as forecasted. Because all predicted surpluses are only estimates, if the president passes his massive retroactive tax cut now, it is possible that the surplus will not materialize and Congress will be forced to take action--either by raising taxes or by cutting necessary programs to balance future budgets. The president's plan does not offer any flexibility or any workable plan if the surplus is other than projected...
...Which is why top Senate Democrat Tom Daschle did most of the talking when he and Gephardt took to the microphones Thursday and introduced a budget of their own, which leans politically on "a hedge" against those rosy surplus projections' coming up crabgrass...
...Daschle's 10-year plan divides the $2.7 trillion projected non-Social Security surplus into thirds - $900 billion for tax cuts (vs. Bush's $1.6 trillion), $900 billion for additional spending, and $900 billion for additional debt reduction, above and beyond the Social Security surplus. (Bush's debt reduction comes exclusively from the Social Security surplus.) And he thinks that with some moderate Republicans in the Senate publicly worrying that Bush's plan is cutting things a bit too close, he'll be able to meet them somewhere in the middle...
...growing surplus exists because taxes are too high and government is charging more than it needs. The people of America have been overcharged and on their behalf, I am here to ask for a refund...
...underscore what the Democrats see as the irresponsibility inherent in Bush's plan. "If what the President said tonight sounded too good to be true," he warned, "it probably is." He went on to paint a grim picture of all the programs that would suffer if the surplus were gobbled up by a tax break: Medicare, prescription benefits, higher minimum wage and improved public schools...