Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Raymond Duray who wrote (15269)	2/20/2002 4:52:03 PM
From: Snowshoe	Read Replies (2) of 74559

not one person in a hundred understands the pernicious enslavement of the general populace that the Bushistas sinisterly are imposing on us with their immediate return to deficit spending and debt-building. I share your concern about the debt, but I am not as quick to blame it all on Bush. A week ago Barron's had an article suggesting that the budget "surplus" of the last few years was an illusion caused by excess capital gains tax receipts during the bull market. In other words, the projections were based on the same type of phony accounting that corporations have been using to pump up their stock prices. If true, then we'll get hit by a double whammy when the capital gains turn into losses at the same time Bush is cutting taxes and raising spending.

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