President Bush’s tax cuts reduce federal revenue, as his own economists have repeatedly acknowledged. But in the bizarro world of the Wall Street Journal, which believes otherwise, the Bush tax cuts are actually financing the war in Iraq and the war on terror:

Republicans also deserve credit for financing the war, which is more than many Democrats say they’ll do if they run Capitol Hill. The extension for two more years, through 2010, of the 15% rate on dividends and capital gains will also help sustain the economic growth that is throwing off record revenues to pay for the war even as the budget deficit declines.

Why haven’t we caught Osama bin Laden? Not enough tax cuts!