Inteersting editorial in today’s New York Times, Tax Talk Goes Orwellian:

President Bush had it exactly backwards in his speech Tuesday night when he exhorted lawmakers to keep cutting taxes. He noted that when the going gets tough, leaders are tempted to take stands that are crowd pleasing yet counterproductive, like championing protectionism in the face of global competition. Fair enough. But then he warned that in today’s uncertain times, lawmakers might even be tempted to do something as weak-kneed as "increasing taxes."

If Mr. Bush is trying to say that tax cutting is politically courageous, that ignores reality. Politicians cut taxes to please the crowd, and they are always and understandably reluctant to vote against a cut or — gasp — vote for a tax increase because that could make them unpopular. Mr. Bush knows that. He was basically warning the assembled lawmakers, actually the Republicans, that they would never make the cheerleading squad if they didn’t extend his temporary tax cuts.

We hope Congress will realize that extending the tax cuts would be an act of political cowardice, not courage.