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Politics : PRESIDENT GEORGE W. BUSH
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To: Kenneth E. Phillipps who wrote (504175)12/5/2003 12:21:28 PM
From: DavesM  Read Replies (2) of 769667
 
Kenneth,
When a country goes into Recession as it did the first quarter of 2001 (the NBER may reexamine the economic data next month, to see if the recession actually began before March 2001), many people eventually lose jobs. People without jobs no longer income or payroll taxes, but receive Gov. benefits. This can happen, when trillions of dollars are wiped out in the Stock Market (as happened in 2000). Tax cuts will result in making a deficit larger. Large budget deficits are not unusual in difficult economic times. France and Germany are both running deficits, well above the ceilings set by the EU (each running about 4% of GDP, if I remember correctly).

re:"How can you lost over 2 million jobs and have over a trillion in deficit spending at the same time? Bush has done it."
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