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August 12, 2005

WSJ: Snowe Was Wrong

From today's Political Diary:

Don't expect too many apologies from Capitol Hill, but the investment returns on the Bush tax cuts are now rolling into the Treasury and, boy, were the doom and gloom "budget hawks" wrong. The prognosticators predicted that the Bush tax cuts would push the federal government deeper into the red, drive interest rates up and crash the economy. Luckily President Bush didn't pay much heed to Sen. Olympia Snowe, a Maine Republican, who did all she could to derail the first round of tax cuts in 2001 and also opposed later cuts in the cap-gains and dividend tax rates. The Treasury is now reporting record high $142.09 billion in tax receipts, the most ever for the month of July.
In reality, Snowe only plays a deficit hawk on television. Check out her press release archives for some serious pork-bragging. A few tidbits:
SNOWE ANNOUNCES MORE THAN $130,000 IN E-RATE FUNDING TO IMPROVE MODERN TECHNOLOGY FOR MAINE SCHOOLS, LIBRARIES AND ADMINISTRATIVE DISTRICTS

SNOWE, COLLINS ANNOUNCE MORE THAN $13 MILLION IN FUNDING FOR ESSENTIAL MAINE PROJECTS IN INTERIOR APPROPRIATIONS BILL (Great, more construction delays)

SENATORS SNOWE AND COLLINS SECURE MILLIONS OF DOLLARS FOR HIGHWAY, TRANSPORTATION PROJECTS IN MAINE

Nope, can't have any of that sweet, sweet tax money going back to the people who earned it. Unless, of course, you can write a press release taking credit for distributing it.

Posted by slublog at August 12, 2005 12:27 PM

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