Bush said accelerating the rate cuts, as he proposed, would provide a "direct influx of capital" to the small business sector critical to job growth, according to excerpts from a roundtable interview released by public television's Nightly Business Report.
Bush has little choice but to compromise after the Republican-led Congress scaled back the $726 billion tax cut package he proposed in January. The House of Representatives set a $550 billion cap, while the Senate backed a $350 billion limit on new tax cuts.
I'm happy to see him stick to his guns on this one. It will take leadership to pass this through a body that wants to spend as much money as they can.
Democrats blame Bush's tax cuts for turning budget surpluses into record deficits and for costing the private sector more than 2.6 million jobs.
How come Democrats never blame the deficit on too much spending?