U.S. Sen. Lindsey Graham (news, bio, voting record) of South Carolina said reliance on borrowing to finance an estimated $1 trillion to $2 trillion in transition costs would be irresponsible and could undermine Bush's tax- and deficit-cutting goals.
"I don't think you can make the tax cuts permanent, have alternative minimum tax relief and borrow the entire transition costs -- which is over a trillion dollars -- and have deficits that we can sustain," the South Carolina Republican said.
He doesn't think so.
He doesn't think you can get rid of your salary and live on credit cards without going into debt.
But you know what's really scary? Bush thinks you CAN:
"White House officials say borrowing would not endanger the president's other financial goals, which include a pledge to cut the federal deficit in half by fiscal year 2009."There it is: BORROWING will not endanger the goal of cutting the deficit.
I'm not making that up; that's what it says.
This sounds like something you would expect to hear from the mouth of the Mad Hatter.
And I would like to hear one Democrat come right out and say so.