"Abracadabra Economics"

Michael Kinsley slams Bush's prescription-drug program:

What's shocking about this, more than the numbers (hundreds of billions of dollars are hard to fathom), is that Bush's drug benefit comes without even a theory about how it will be paid for. Even after nearly three decades of Republican abracadabranomics, this may be a first. A transparently phony theory at least pays tribute to the hypothesis that money doesn't grow on trees. Not even to bother coming up with a phony theory is an arrogant insult to democracy. It raises "because I said so" to a governing philosophy.