Bush: No new taxes

No time for a full analysis at the moment... But President Bush has the right approach to raise money for Hurricane Katrina victims:

President Bush on Friday said he was committed to a massive recovery effort in areas affected by Hurricane Katrina — no matter the cost, as long as tax hikes were not part of the plan.

"It's going to cost money, and I'm confident we can handle it," the president said during a joint press conference with Russian President Vladimir Putin at the White House. "We're going to make sure we cut unnecessary spending, maintain economic growth and therefore, we should not raise taxes."

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