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Politics : Piffer Thread on Political Rantings and Ravings
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To: SmoothSail who wrote (980)3/6/2001 3:42:39 PM
From: Original Mad Dog  Read Replies (2) of 14610
 
I think he is hammering on it for a different reason....to create the perception that he inherited this problem from the prior regime, rather than allow the perception to take hold later on a recession began on his watch.

If there is a recession, traditional macroeconomic theory would say that a tax cut of some size would be a good idea, especially in the time of a budget surplus. I am not sure whether that theory holds when the debt is as large as it currently is, and paying down that debt to some degree might exert downward pressure on interest rates (which are also a stimulus to a recession-plagued economy).

I don't think a modest tax cut would be so bad right now, though I agree it shouldn't be necessary to trash talk the economy to get support for it.
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