Impeach George W. Bush Message Board

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Politics : Impeach George W. Bush

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To: greenspirit who wrote (9764)	1/24/2002 1:44:35 PM
From: jttmab	Read Replies (2) of 93284

How much of that 4 trillion is due to the recession, and how much is due to tax cuts? To get to your question....we can think about the number $5 trillion instead of $4 trillion. washingtonpost.com Extract: But the CBO forecast suggested that the government would have eked out a small surplus this year absent the president's tax cut. Democrats charged yesterday that Bush's tax cut is largely responsible for the startling long-run decline in what, only a year ago, appeared to be more than $5 trillion in surpluses. The White House last year had said that its budget would not touch Social Security payroll taxes to fund other parts of the government and was designed to pay down $2 trillion of federal debt by 2010. But the new projections suggest that Social Security funds will be tapped for other programs through the rest of the decade, with little prospect for significant debt reduction. End of extract. Dashle is a liar Actually, it's not Daschle it's the CBO, which is considered by both sides of the aisle to be an independent arm of Congress. Career government budget/accounting weenies. You're not going to find a member of Congress that says the CBO is lying. Now Bush is saying that we'll tap into the SS trust fund for the rest of the decade....that puts it at the nearly the moment when the SS the baby boomers start drawing on the principal. So we've gone from paying down $2 trillion dollars of debt to cr*p. If you want to turn your focus to "the recession", note that Greenspan said today that it appears the recession is over or nearing the bottom. You could also recall that last year some of the Democratic members of Congress we're complaining that Bush's proposal was unrealistically optimistic in terms of revenue with a declining economy and his proposed budget was unrealistically restrained. To put it differently, Bush already built into the budget proposal a scenario in which it was guaranteed that there would be a surplus drain. Same game Reagan played. jttmab

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