For the 500th time, President Bush’s tax cuts have not increased federal tax revenue — they’ve dramatically reduced it. (See my last post on this subject for details.) But Bush keeps suggesting that his tax cuts have made the deficit smaller. The latest example comes from his weekly radio address:

The tax relief stimulated economic vitality and growth and it has helped
increase revenues to the Treasury. The increased revenues and our
spending restraint have led to good progress in reducing the federal
deficit. Last month we learned that the deficit is now projected to be
$94 billion less than previously expected. I set a goal of cutting the
deficit in half by 2009, and we are ahead of pace to meet that goal.

This is intellectually fraudulent. But because Bush has done the same thing so many times before (and because the subject isn’t dramatic or titillating), the press will once again ignore it.