PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Kenneth E. Phillipps who wrote (286637)	8/14/2002 10:40:06 AM
From: DavesM	Read Replies (1) of 769667

Kenneth, I believe that you are simply incorrect. The unemployment rate that resulted after the 1929 market crash got as high as 25%. The unemployment rate that resulted after the market crash in the early 70's got as high as 9%. Today, 2 and a half years after the 2000 crash, unemployment is under 6%. Yes, giving tax breaks - during a recession, resulted in an increased deficit. But it also resulted in keeping consumer spending up, despite what experts had predicted. We are currently in deflationary times. In such an atmosphere, Federal Budget surpluses have little to do with interest rates. The Fed probably feels that they can continue to lower rates, as long as inflation is kept in check. For example, the Japanese Government runs huge deficits (and has for years), their interest rates are even lower than ours.

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