The administration claims to have a plan to cut the deficit in half over the next five years. But even Bruce Bartlett, a longtime tax-cut advocate, points out that “projections showing deficits falling assume that Bush’s tax cuts expire on schedule.” But Mr. Bush wants those tax cuts made permanent. That is, the administration has a “plan” to reduce the deficit that depends on Congress’s not passing its own legislation. [Emphasis added.]
Paul Krugman in The New York Times