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Politics : PRESIDENT GEORGE W. BUSH
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To: DizzyG who wrote (546061)2/27/2004 12:40:27 PM
From: DuckTapeSunroof  Read Replies (2) of 769670
 
"I think a cyclically balanced budget with fiscal restraint is the order of the day."

>>> I'm fine with that... if you can figure out a way to enforce it!

>>> The politicians ALWAYS want to engage in Keynesian 'pump-priming' deficit spending at the bottom of the economic cycle --- but they NEVER do what is required to avoid the long-term devaluation of the currency, by actually paying down debt at the top of the cycle.

>>> Figure out a way to enforce that discipline, and you've got something. Otherwise, it's just 'rosy view' fluff... because it requires politicians to sacrifice their near-term re-election prospects, for the long-term health of the country... and history proves the politician who'll do that is as scarce as hen's teeth.
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