They Called It ‘Rubinomics’
Ex-Treasury Chief Robert Rubin says nothing in life is certain. But in his new book, the ex-treasury chief is sure about one thing: Bush’s economic policies are badly misguided. An excerpt:

In January 2001, the nonpartisan Congressional Budget Office projected a ten-year federal government surplus of $5.6 trillion. By September 2003, after two rounds of tax cuts, Goldman Sachs estimated a ten-year deficit of $5.5 trillion. That’s a swing of $11.1 trillion, but adjusting for methodological differences the better number to use is $9 trillion. Though many factors contributed, the tax cuts of June 2001 and May 2003 were central to this reversal.