Economic plan too expensive

Even before President George W. Bush revealed his budget plan, there was debate about his proposed tax cut and whom it would most benefit.\nThe answer -- that everyone would benefit from paying less taxes -- is not important, because that benefit would be short-term. The fabled budget surplus that would be paying for Bush's multifarious initiatives, including the tax cut, should be used for a different purpose: the old spectre that won't go away, the national debt.\nTo his credit, Bush's economic plan does include a measure to bring down the deficit, but the plan itself is on such a large scale that by the time we finish paying for everything in it, we'll end up that much more in debt. The plan not only uses up all the projected surplus, but relies on money from temporary surpluses in the Medicare program. \nIn the past few years, we haven't heard much about the national debt because the economy was doing well, and we now have the benefit of a projected budget surplus. But the debt still lingers. And now that the economy is slowing down, it's time to pay attention to the national debt. If we don't pay it down now (not pay it off, because we don't have the money to do that), we'll just end up further in debt next time we're in a recession -- a time that might not be that far off. \nSome might wonder why we should bother paying the national debt. Besides a general sense of responsibility, it sets an example for other countries, many of whom owe the United States money. And like any resource, those who have loaned us money in the past will be more likely to do so again if we pay them back. In a sense, we need to rebuild our country's credit. \nRepublicans used to be the foremost proponents of fiscal responsibility, but apparently times have changed. While Bush's heart might be in the right place when it comes to the programs and issues addressed in his economic plan, the plan itself is too broad and expensive to be responsible, especially in our current economic climate. Paying off the national debt must be a higher priority than short-term tax cuts.\nStaff vote: 6 - 5 - 1\nOnline vote: 106 - 53 - 5