Arianna Houghington on the White House's credibility problem:
By employing the Cayman gambit there was:

A dramatic drop in Halliburton's federal taxes, which fell from $302 million in 1998 to less than zero -- to wit, an $85 million rebate -- in 1999.

At the same time they were hard at work stiffing U.S. taxpayers, Cheney and Halliburton were happily feasting at the public trough -- the company received $2.3 billion in government contracts and another $1.5 billion in government financing and loan guarantees.