the biggest problem with the tax cut that President Bush has proposed is not that it is going to require over $4 trillion in lost Federal revenue over the next decade, it is not that it is going to create more than a $2 trillion deficit, and it is not that the majority of it is going to go to those who need it the least, the biggest problem is that we do not know what the cost of the war is. We have gone down this road before and we wound up quadrupling the public debt. The responsible thing to do is to hold off on tax cuts until we know what the cost of this conflict in Iraq will amount to, until we have some sense of how long we are going to have to stay there, until we have some sense of what it will cost to reconstruct that country, until we have some sense of what it will cost to establish a stable democracy before we get out of there and allow it to return to the kind of despotic leadership that it is subject to today. So let us be prudent. Let us hold off on tax cuts. If we must, we should proceed with a prudent foreign policy with regard to the Middle East. Let us rid the world of weapons of mass destruction to the extent we can do so, but let us not break the bank in the United States and pass the bill on to our children. Let us be prudent and fiscally responsible. Let us put off tax cuts until we know what kind of expense we are undertaking with regard to the war in Iraq.
Editor's note · Context
Addressing concerns about President Bush's proposed tax cuts in relation to the Iraq war costs.
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