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Democrats have accused Mr. Bush of presiding over the worst fiscal deterioration in history, from projected surpluses of $5 trillion over 10 years to projected deficits of $5 trillion if all of Mr. Bush's tax cuts become permanent.
First, the projected surpluses are not guaranteed.
Moreover, these projected surpluses may never come about.
These figures must be treated with caution, since the projected surpluses are iffy.
The suggestion that tax cuts could be rescinded if projected surpluses don't materialize seems unlikely politically.
I expect to see those projected surpluses dwindle rapidly over the next year or so.
When George W. Bush took office in 2001, the government projected surpluses of $5.6 trillion for the coming decade.
But Mr Bush argues (optimistically) that projected surpluses mean you can have both tax cuts and active government.
And those projected surpluses after 2006 are based on gimmicks that give smoke and mirrors a bad name.
The debate over spending tonight was part of the campaign-long debate over how best to allocate the projected surpluses.
Last year, Mr. Bush pushed for a large tax cut based on projected surpluses; now those surpluses are vanishing.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com