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Politics : Politics for Pros- moderated
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To: Lizzie Tudor who wrote (12638)10/19/2003 9:33:33 PM
From: Dayuhan  Read Replies (3) of 793553
 

I for one think Bush's poor economic team contributed to the deficit.

Certainly deficits are the result of executive decisions. In this case the decision for a tax cut was arguably legitimate: the economy did need some stimulus, and though the impact of the cut will be largely psychological, it may turn out to be real enough. The problem they have to face is one traditional with Republicans: since the military budget accounts for such a large percentage of discretionary spending, it is impossible to combine tax cuts with increased military spending without generating massive deficits.

I think "devastated" is somewhat of an exaggeration, when applied to America's professional workforce. A return to reality is going on, which after the hallucinatory era of the late '90s probably seems devastating. It's something people are going to have to get used to. We have to compete, like everybody else, and we can't do that by flinging money at everyone who thinks they deserve it.

They thought they could grant all those tax cuts and grow their way out of any problems... thats the way it happened before.

Is that really the way it happened before? I see no causative connection between tax cuts and growth. Certainly there is no empirical evidence of any such connection.
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