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Politics : PRESIDENT GEORGE W. BUSH
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To: Wayners who wrote (681101)4/29/2005 1:09:57 PM
From: DuckTapeSunroof  Read Replies (1) of 769667
 
I never said it did.

But, by shrinking the speed at which the deficits were piling up, it greatly reduced the interest expenses on the accumulated national debt, and helped to lower interest rates throughout the economy.

(Interest on the national debt is currently around 13% of all federal spending... rising fast.)

Would have been far better to seriously *lower* federal spending, I agree, and gut our massively over-complex and corrupted tax codes... in favor a simpler, less special interest favoring code.

Clinton's may have been a *modest* achievement, but his rate of increase in federal discressionary spending ran at HALF the rate of Bush II's....

The way things are going now, by 2032 (year SS is projected to have spent down it's T-bonds), INTEREST on the NATIONAL DEBT will take a bigger slice out of the budget then SS AND Medicare/Medicaid combined.

I'd hardly call that progress.
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