Dusting Off the Veto Pen

by Robert Bluey, director Center for Media & Public Policy, The Heritage Foundation: Alan Greenspan’s criticism of the administration’s fiscal record couldn’t have come at a better time. The former Federal Reserve chairman’s autobiography, “The Age of Turbulence,” lays into President Bush and congressional Republicans for their free-spending ways. The criticism seems to have emboldened Bush just as Democrats challenge him on taxes and spending.

Speaking at a press conference last week, Bush repeatedly hit congressional Democrats for proposing tax hikes and spending increases. The new hard-line attitude, something missing when Republicans controlled Congress, is refreshing for conservatives seeking a return to fiscal restraint. “The worst decision the Congress could make would be to raise taxes,” Bush said. “We don’t need to raise taxes in order to fund budget priorities.” . . .

Bush also came out strongly against additional government spending -- specifically the proposed $35- to $50-billion expansion of the State Children’s Health Insurance Program, SCHIP for short. Add in 12 appropriations bills awaiting resolution -- all threatening to exceed the president’s spending recommendations -- and the stage is set for the biggest budget showdown since then-Speaker Newt Gingrich challenged President Bill Clinton to shut down the government in 1995.

All of this activity has led the mild-mannered Greenspan to offer Bush some blunt advice: Dust off the veto pen. . . . [Read More]

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