Bush vs. Daschle; A side by side Comparison Message Board

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Politics : Bush vs. Daschle; A side by side Comparison

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To: c.horn who started this subject	1/18/2002 9:19:12 PM
From: c.horn	Read Replies (1) of 58

I'll begin by posting the farce called: Remarks by Senate Majority Leader Tom Daschle America's Economy: Rising to our New Challenges democrats.senate.gov A small excerpt I think all people knowledgeable in economics will enjoy.. Unfortunately, last spring, Republicans chose exactly the wrong solution. They made a huge tax cut their number one priority -- ahead of everything else -- and discarded the framework of fiscal responsibility. They said their tax cut cost 1.3 trillion dollars. It is actually $1.7 trillion when you include interest costs. And many experts believe the true costs are even more dramatic. The IMF, for instance, estimates the cost of the tax cut at $2.5 trillion -- nearly a trillion dollars more than advertised. Supporters of the tax cut said the surplus was so massive and so certain that we could have a huge tax cut, increase spending on education and the military, and provide prescription drug coverage. We could protect the Social Security surplus, pay off the entire federal debt in a decade, and still have enough money left over to get us through any unforeseen disasters. What we got instead was the most dramatic fiscal deterioration in our nation's history. So the tax cuts caused a recession? LOL! I would like someone to post information of any time in history that this has happened..

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