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Strategies & Market Trends : Currencies and the Global Capital Markets

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To: Paul Berliner who wrote (2820)	1/3/2001 7:32:23 PM
From: Sam	Read Replies (2) of 3536

Paul, An ounce of prevention is worth a pound of cure. AG had to tell/show Bush and his Economic Summit people that he can deal with the economy without huge tax cuts. He also wanted to show Congress on its opening day the same. I think he would agree with Henry (and me, and I would guess you as well) that paying down the debt is more important than his tax cuts. In fact, almost no Republican running for Congress ran with this tax cut as a main issue; if anything, they ran away from it. The public has never shown any great affection for it. The only people who love it are people like Bush, Armey, Delay, and others who (I believe) actually would like to have large deficits again because this would help to incapacitate the Federal government (if you believe that that is farfetched, see David Stockman's account of the Reagan tax cuts in The Triumph of Politics). As far as: <<p.s. what does this mean? since the BC team is going to push for their cuts no matter what to repay their nearly half trillion debt to their supporters >> "BC" is "Bush/Cheney"; "their nearly half trillion debt" should have had the word "dollar" before 'debt', and that is what they raised in their campaign. You may recall that fewer than a thousand people actually accounted for something like 65-70% of this money (NYT article documented this back in October sometime). These people want something back for their money, and that something includes some nice tax cuts (and probably a missle defense shield, I would guess). I guess I'm being a little cynical today. s.

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