Supply-siders argue that tax cuts do not cause budget deficits because they create so much economic growth that total tax revenues will increase, even at the lower tax rates. In short: tax cuts pay for themselves. The Treasury Department released a report today which analyzes the economic effect of President Bush's tax cuts and concludes that tax cuts do not, in fact, pay for themselves. From page ii of the Office of Tax Analysis, U.S. Department of Treasury's A Dynamic Analysis of Permanent Extension of the President’s Tax Relief:

Last-Minute Attempt to Add Estate Tax to Pension Reforms Fails Household Debt: A Growing Challenge for American Families and Federal Policy

Congress has yet again taken up efforts to dismantle the estate tax. This time, the tricksy, anti-equity gang attempted to add estate tax reduction to the pension bill now being negotiated in conference. But, thanks to Sen. Olympia Snowe (R-ME), who didn't want to see a highly controversial amendment deep-six the pension bill and professing concerns for transparency, refused to sign the conference report. From BNA (subscription required):

The League of Conservation Voters has come out against sunset commission legislation today and has announced it is strongly considering scoring the vote on the Tiahrt bill, H.R. 5766, tomorrow. From their letter to members of the House of Representatives: A broad range of programs fall under the purview of this commission. Grants to help state and local governments upgrade their sewer systems are at risk, as is funding for youth sports fields and parks, and even heating and weatherization assistance for the poor.