July 10, 2006

TAX EATING HAWKS:

Portman expects decrease in deficit (Stephen Dinan, 7/10/06, THE WASHINGTON TIMES)

The Congressional Budget Office on Friday said federal revenue is running 12.8 percent ahead of the figures at the same time last year. The double-digit increase is the second-highest growth rate in the last 25 years, following only 2005's increase of 15 percent. [...]

"It's amazing. For the first time since 1997, last year Congress actually reduced the growth of entitlement spending," [Rob Portman, a former congressman and U.S. trade representative whom Mr. Bush tapped two months ago to be director of the Office of Management and Budget (OMB),] said.

Mr. Portman also said the deficit as a percentage of total economic output, or the gross domestic product, is falling, both because of spending restraint and economic growth, and said Republicans are not getting enough credit for controlling spending.

"If you take out defense, if you take out homeland security, which increased just above inflation, last year you actually had a slight cut and a little bit of progress on entitlements," he said. "We're actually making some progress on spending."

In fact, the entire deficit comes from just the post-911 increases in defense and other national securoity spending. Although you won't hear the purported budget hawks on the Right screaming for big cuts in those programs...

Posted by Orrin Judd at July 10, 2006 9:10 AM
Comments

What are the "budget hawks" screaming about, anyway?

Even someone like Bob Brinker whose advice in investmnents, his area of expertise, is excellent (he's saved my irrational bacon a number of times) just goes off on Bush and his spending.

It's a strain of BDS that I don't understand.

As OJ says, where do they want cuts?

Posted by: Pepys at July 10, 2006 4:20 PM

Pepys;

What about the Department of Education? Completely eliminating it would do much to improve education. NASA might be a good choice as well. Consolidate the few non-pointless things done by the Departments of Energy, HHS, and Transportation to Interior and shut the rest down.

And doesn't OJ want to shut down the CIA?

Posted by: Annoying Old Guy at July 10, 2006 8:58 PM

I'm neither a budget hawk nor Right.

Posted by: oj at July 10, 2006 9:06 PM
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