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Politics : PRESIDENT GEORGE W. BUSH
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To: Doughboy who wrote (39984)9/27/2000 1:21:33 AM
From: Neocon  Read Replies (1) of 769667
 
It is not a stimulus unless aggregate spending increases out of synch with growth. There is no gasoline on the bonfire. Additionally, one doesn't know how much private debt will be retired as a result, since people are worried about out of kilter consumer credit. Finally, if one sets too much aside for deficit reduction, then there is a sudden decrease in the money supply relative to the growth rate, which threatens deflation. Further, if there is a sudden reduction in aggregate demand, as would happen if a most of the surplus were set aside, there would be a recession. The safest thing is gradual debt reduction, which is the Bush plan. The bias, after that, is in favor of letting people keep their money.......
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