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Politics : PRESIDENT GEORGE W. BUSH
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To: Kenneth E. Phillipps who wrote (518961)1/21/2004 10:28:21 AM
From: Neocon  Read Replies (1) of 769670
 
It is true that if the debt rises by half a trillion dollars in a year, it is an increase of about 7%, which exceeds anticipated economic growth. However, the real question is average growth, which we do not know yet. After all, 7% by itself is not much of a spike, it depends alot on the cumulative impact of deficits, which is why the Reagan deficits never produced the dire effects anticipated by liberal economists: after a spike, they receded to manageable levels..........
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