It's an election year. Everyone from the president to the '08 candidates are getting in on it. Thanks to a Democratic Congress though, this appears to be directed at working people as opposed the wealthy elite. The budget can probably withstand this short-term although I think they should scale it down.

Making all of the '01 tax cuts permanent with no way to pay for them as the boomers start to retire won't happen any time soon.

__________________
"You have shown what history teaches us - that at defining moments like this one, the change we need doesn't come from Washington. Change comes to Washington."

- Barack Obama, 8/28/08