How the GOP Became The Party of the Rich
Astonishing reading for anyone who realises the November 23 deadline for the “supercomittee” is coming up, and they’re not doing anything about it - the malaise set in a while ago: In November 2002, at a meeting in the White House, the president and his top economic advisers packed tightly around a mahogany table in the Roosevelt Room. With the administration’s own forecasts showing that the economy had already regained its footing, one after another of Bush’s deputies sounded the alarm about the dangers of a new tax cut. “This burns a big hole in the budget,” deputy chief of staff Josh Bolten told the president. “The budget hole is getting deeper,” added Daniels, “and we are projecting deficits all the way to the end of your second term.”… Entertaining the chorus of doubters, Bush himself voiced qualms about more cuts for the rich. “Won’t the top-rate people benefit the most?” he asked. “Didn’t we already give them a break at the top?” ...