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Politics : PRESIDENT GEORGE W. BUSH
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To: CYBERKEN who wrote (363536)2/25/2003 5:32:44 PM
From: DuckTapeSunroof  Read Replies (1) of 769670
 
Maybe... but according to the economics firm in St. Louis that drew up the projections in Bush's tax plan (the White House is a subscriber to the service), Bush's tax proposals will produce 1.36 million jobs in two to three years... but then those economic gains will be erased if by then he hasn't cut spending enough to offset the loss in federal revenues and rise in the budget deficit.

They project that if spending is not brought under control, public borrowing will be so massive that it will crowd-out private borrowing again... forcing up long term interest rates, raising the cost of maintaining the debt payments even more, and seriously slowing the economy, and causing the loss of all those new jobs and more.

So, if he can't cut deficit spending in a major way, they conclude that the tax plan will hurt growth more than it will help.

This is the firm the White House used to generate the official economic projections for their tax plan that were submitted to Congress.
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