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Politics : PRESIDENT GEORGE W. BUSH
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To: greenspirit who wrote (340078)1/8/2003 10:24:01 AM
From: Kenneth E. Phillipps  Read Replies (4) of 769670
 
The best way to close a deficit is through strong economic growth. Wrong! Show me one historical example where this has been done. Clinton and the Republican Congress eliminated the deficit by a combination of tax increases and budget cuts. Of course, they were aided by strong economic growth but the Clinton tax increase did not stop the strong economic growth. WSJ suggests we can indefinitely run a deficit of 2% of GDP. I don't think so - not when the economy is facing the crunch of boomer retirement.
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