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Article: Let the horse trading begin.
- Article from:
- U.S. News & World Report
- Article date:
- February 21, 2005
- Author:
CopyrightCOPYRIGHT 2005 All rights reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The sturm und drang in Washington was deafening, and neither side seemed willing to back down. "We said we would invigorate our economy by giving people greater freedom and incentives to take risks and letting them keep more of what they earned," the president boasted, in announcing his budget. "We did what we promised, and a great industrial giant is reborn." But the critics condemned him for using phony economic assumptions, slashing important domestic programs, spending too much on defense, cutting taxes too deeply, and risking calamity by ballooning the deficit to unheard-of proportions.
All this happened 20 years ago, when Ronald Reagan proposed the first ...