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To: GST who wrote (157727)6/5/2003 11:10:43 PM
From: Oeconomicus  Read Replies (1) of 164684
 
...but we also pay more interest each year because we are adding each year to the accumulated debt by running a current operating deficit NOW...

Yes, that was the death spiral we were supposedly in up until the economy took off in the mid-'90s. Then everyone switched to wondering what to do with the trillions of extra dollars from the never-ending new paradigm economy.

...that has been what is going on under Bush NOW.

You do know, don't you, that the 2001 "tax relief" contributed almost nothing to the $300 million plus swing from a projected 2002 budget surplus to an actual deficit? "Stimulous" spending like the $300 rebates contributed 2-3 times as much to the swing. But the bulk of it was a revenue shortfall due to the economic downturn. Are you suggesting we should raise taxes whenever revenues fall due to a weak economy? You better reread your "Econ for Dummies" book.
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