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Politics : PRESIDENT GEORGE W. BUSH
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To: Neocon who wrote (163478)7/23/2001 10:30:15 AM
From: ColtonGang  Read Replies (3) of 769667
 
What they are saying.......DON'T LET BUSH WRECK THE ECONOMY!

Why Bush Will Derail the Economy and Jeopardize America's Future
THERE IS NO BUDGET SURPLUS, AND TAX CUTS AND/OR NEW SPENDING PROGRAMS WILL WRECK THE ECONOMY!

The only surplus is in the Social Security Trust Fund and every dollar of that money will be needed when the baby boomers retire, beginning about 2010.

The federal government ran deficits in the operating budget for 39 years in a row before reaching an approximately balanced budget in 1999 and a small surplus in 2000 when the economy was operating full-speed with the lowest unemployment in 30 years. The operating budget will plunge back into deficit territory is a serious recession occurs.

During the past twenty years the Government has engaged in more than $4.6 trillion of red ink spending, increasing the national debt from $1 trillion in 1981 to $5.66 trillion in 2000.

George W. Bush's father added $1.4 trillion to the national debt just during his four-year term. Now George W. is proposing a $1.3 trillion tax cut that will benefit most the rich. There is no money for the tax cut, but if Dubya could come up with $1.3 trillion it wouldn't be quite enough to pay off the $1.4 trillion that his father added to the debt.
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