Thursday, 18 December 2008
Finance
Maybe it's my limited knowledge of US politics, or a statement about the rules of the game, but I've been surprised not to hear the phrase 'but how do we pay for this' appear more often. It was certainly the case as I read the text that it came to my mind quite often, and there were few statements along the line of 'we will do X by putting up tax Y or cutting back on spending Z or borrowing money AA' etc.
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It's probably largely down to me: I told Treasury not to make a fuss about money because a) it's not their remit and b) Treasury are currently spending $700bn on the financial crisis, so are in no position point fingers.
In general, the budget's a mess as it is, and it's Congress that approves the WH's proposals for the budget, so they don't need to worry about it too much.
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