Friday, May 28, 2004
Today marks the 1-year anniversary of the signing of the Jobs and Growth Tax Relief Act of 2003. In a press release, Treasury Secretary Snow crows that the bill “unleashed the enormous potential of our free-market economy and the results are a great victory for hardworking Americans.”
The traditional 1-year anniversary gift is paper — so perhaps 600 billion pieces of paper would be appropriate to represent the increase in the accumulated federal debt since the passage of the 2003 Act (from other parts of Secretary Snow’s Treasury Department web site):
• $6.6 trillion in May 2003
• $7.2 trillion in May 2004
