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Politics : PRESIDENT GEORGE W. BUSH

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To: ManyMoose who wrote (143088)5/6/2001 1:38:41 PM
From: Scumbria  Read Replies (1) of 769667
 
Dave,

We'll pay off the $6 trillion faster by being richer and paying a lower tax rate on a higher wealth base.

The exact same words that got us into this mess in 1980. The economy (tax base) has grown at the Fed speed limit for the last 5 years. A tax cut will only serve to lower revenues and raise interest rates and inflation.

The only way to pay off the debt is a concious decision to spend the surplus on the debt. As soon as we got a surplus (for the first time in 40 years) Bush decided to not use it for debt reduction.

Scumbria
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