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Politics : Formerly About Advanced Micro Devices
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To: Scumbria who wrote (103809)4/11/2000 2:34:00 PM
From: pgerassi  Read Replies (1) of 1570538
 
Dear Scumbria:

You should blame the hero, The Democratic Senate and Congress. They SPENT the money faster than the tax cuts brought it in. Blame the $4 Trillion on the right people. Also the deficit has been reduced by cutting the growth of spending. The Democrats have you believing that a "cut" comes from spending less than you plan and not by the ordinary definition of spending less than last year. Check the revenue growth against the expenditure growth. During that debt increase, spending grew faster than revenue but revenue grew. Remember Reagan inherited a lousy economy from Carter (really the Democratic House and Senate) years in the late 70's. I think that Gore will stop putting the brake on expenditures and start increasing the debt faster than you realize. He then will say "we need to raise your taxes to fix Social Security, etc.". The way most of his programs that he lays out (if he does that at all) work, they leave large unfunded liabilities in the far future (sometimes not so far).

Social Security is an example. If it was set up like it was sold to the public, it would not be in the straits it is now. For the first 30 to 40 years, it looked like a great program but, the large unfunded liability was beginning to come home to roost. It should never have been a "Pay as you go" plan. It back loads the costs (something the Democrats seem to favor in their various plans) while front loading the benefits. The best plan I have seen so far to fix this, is the very successful 401k type plans. A portion of the money goes to fund an insurance that promises to pay a barely above poverty benefit (in case all goes wrong in the rest of the plan) while the majority is invested in higher paying securities (stocks, bonds, and / or mutual funds). This provides for higher growth for the economy while still providing for a safety net when things go wrong (if the rate of people falling into the first half is low, the benefit level could be increased until the rate of outgo is roughly the same as the revenue thus trending higher during times of plenty and trending lower during lean times). This is much better than the current program, it should be a "No Brainier".

Pete
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