PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Neocon who wrote (417006)	6/20/2003 12:01:52 PM
From: American Spirit	Read Replies (1) of 769670

The S+L debacle was allowed to go too long because Reaganites didn't want to admit the disaster, nor write the real figures into their numbers. It was such a huge loss for the tax-payers that it would have tarnished RR's economic record. So they dumped it on Bush Sr. Not saying RR didn't stimulate the economy and that we didn't recover from the awful 70's, but Voodoo Economics still doesn't work. It's just plain arthmetic. And the notion that is works is a big lie being carried forward into this administration by the Limbaugh, Kemp, Bushie types. In fact, Voodoo Economics only works for the wealthier and leaves us with a big debt load which devalues the dollar and raises interest rates. We haven't seen the interest rate hikes yet because they are being held artificially low by Greenspan. Our economy now is literally living off low-cost mortgage loans and artificially high real estate values. Watch out below if that bubble breaks.

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