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Technology Stocks : Intel Corporation (INTC)
INTC 36.78+2.7%Nov 26 3:59 PM EST

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To: Scumbria who wrote (128934)3/4/2001 8:02:56 AM
From: pgerassi  Read Replies (3) of 186894
 
Dear Scumbria:

Clinton and the Democrats wanted to overspend. Every time Clinton had his way, he spent more. Your vaunted 1993 deficit reduction act was really 90% tax increases and 10% spending reductions mostly in the out years. We cannot sustain government spending increases of 8% a year when growth in the economy is less than half that. Bush proposes 4% a year in his budget being sent up. That is half of the increase in Clinton's first two years when he had a Democratic Congress to go along.

Besides, I blame Congress for overspending and reducing spending. They took that power away from the President during the Nixon years. The President can now only suggest a budget and he can only vote up or down on what Congress passes. Clinton's years were marked by vetoes every time Congress did not pass a budget that spent enough for him. I think that Bush will be the other way. His father and Reagan did try to hold the line on spending (but the Congress could always override it (you seem to forget this major fact all of the time (the last word is where the "buck" stops))). His father did get the spending caps that when kept, balanced the budget. It seems that Republican Presidents hand Democratic ones economies in good shape and Democrats return economies in or near to a recession.

Pete
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