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Politics : Formerly About Advanced Micro Devices

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To: Alighieri who wrote (180638)	1/17/2004 4:21:02 PM
From: TimF	Read Replies (1) of 1574714

Clearly you could not run your household by running up debt forever, but forget that too. I should forget it because it has no relevance to any of my points. In 10 years retirement of the baby boomers is in full swing....at no time has it been more critical to have fiscal discipline, a balanced budget I agree its important to have fiscal discipline. But even if we had a surplus its important to keep spending down. If you have low government spending and low taxes and run a deficit you can increase the taxes if you need to, or you can borrow money with less negative impact on the current economy and that of future generations. If government spending is high you take a lot of money at of the private sector and hurt the economy even if there is a government surplus. Since the government is going to have to spend a lot on retirement programs in the not to distant future a strong effort should be made now to reduce spending. Also entitlement reform is needed. We can't be as generous with future retirees when there will be less and less working people per retiree in the future. and a gutted SS fund There never was a real SS fund to gut. tax cuts doled out to win elections, of which the typical American is getting crumbs, and 1% of the top earners the loaf. Are you in the top 1% Tim? If not, why are you arguing for these tax cuts The top 1% benefit the most because they pay the most taxes. If they are going to be hit hardest by taxes it makes sense and is fair that they benefit the most by tax reductions. In any case far more then the top 1% benefit directly, and also there are indirect benefits to the economy. No I am not in the top 1%, not even close, but I benefit from tax cuts and even if I didn't its the right thing to do. Unfortunately Bush has shown no restraint on spending and neither has congress (either the Democrats or the Republicans in congress). The last time the Republicans tried to restrain spending it hurt them politically and most politicians care more about being re-elected then they do about restraining spending. Solving this problem takes courage. The democrats out there saying that they are going to roll back cuts are swimming against the political tide. Probably committing suicide...but still sticking to the honest line. The real courage that is needed is to make cuts in spending. The cuts don't need to be deep but on top of the up front cuts there needs to be strong restraint on future spending growth. I don't think it will happen. I do think that the results of this lack of restraint will not be good, but they won't be a calamity either. We'll probably muddle through, with the situation worse then it could have been and with more fiscal problems and lower economic growth then we would have had if their had been more restraint on government spending. Tim

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