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Politics : PRESIDENT GEORGE W. BUSH
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To: DuckTapeSunroof who wrote (455657)9/9/2003 6:31:12 PM
From: Lizzie Tudor  Read Replies (1) of 769670
 
And, over-all tax revenue is down... and projected to remain far short of obligated government spending.

This is the key I think to much of our fiscal problems.

My personal view is that Snow and Chow (sounds like two poodles from "best in show") missed the globalization and jobs exodus when they needed to see it coming in 2001. There isn't any excuse for missing this large trend, because I heard the economist on CNBC talk about the issue in 2000. Anyway this bad forecasting on the part of the Bush economic team made Bush think he had more leeway than he did and he went through with both Iraq and tax cuts. Had there been any sort of warning from Snow and Chow, I suspect at least somebody would have thought twice about this reincarnation of LBJs "guns and butter" frightfest. Anyway not a peep from the Bushonomic team until the surprise! deficit 300-450 billion uppage.
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