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Politics : Stockman Scott's Political Debate Porch
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To: Augustus Gloop who wrote (64224)10/30/2004 10:55:03 AM
From: Wowzer  Read Replies (1) of 89467
 
I agree with you that this goes a long way back. But Bush has done nothing to try and change this. In fact he has done the opposite and has made it much worse by cutting taxes and increasing government spending through the roof with no signs of letting up. I am all for cutting taxes, but you have corresponding cuts in spending as well.

Bush is literally bankrupting our country right before our eyes but most of us our to blind to see it. Funny you mention Greenspan cannot raise rates because of the credit bubble. Since over 40% of our national debt is now financed by foreigners Greenspan is rapidly losing his control on rates. It is just simple economics what happens when we flood the markets with more debt and our ability to repay becomes more questionable? This week China are raised their rate (i.e. competition for funds in the world markets). The dollar is at 13 year lows foreign investors are paid interest in dollars that are worth less and less to them. Not to mention the trade deficit which is mind boggling large all we export now is dollars that are worth less and less everyday. This can't continue and some really hard choices are going to have to be made. Bush has proven to me he can't make the hard choices. Can Kerry... I really don't know. But I do know Bush can't. So he should be fired.
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