About Those Bush Tax Cuts for the Rich . . .

By The Editorial Board
New York Times

In unveiling his final budget this month, President Bush again called for making his tax cuts from 2001 and 2003 permanent, rather than letting them expire as scheduled at the end of 2010. That would be irresponsible.

The chart below, from the Center on Budget and Policy Priorities using data from the Congressional Budget Office, illustrates why the tax cuts have to go.

Chart: Debt With and Without Unpaid-For Extension of Recent Tax Cuts

As the chart shows, the ratio of national debt to GDP is currently 37 percent.

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