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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction
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To: Thomas A Watson who wrote (42709)12/6/2005 8:27:31 PM
From: American Spirit  Read Replies (1) of 90947
 
Bush's economy is all deficit spending driven. So it's a phony boom. Any fool can borrow and spend and make himself look prosperous. I could go out and buy a Rolls Royce right now. But would it make me a big success? No. I'd just look rich.

But wages are flat, debts are huge, health care is in crisis, the government is in disarray and nobody has any plan for how to pay for it all.

Sometime soon someone's either going to have to raise taxes and/or slash social spending. McCain admitted this the other day. Either way, Bush is leaving the hard work for the next guy and leaving behind a huge mess. So his boom is really more of a bust.

Remember, Nixon had a booming economy during the Vietnam War too, but we still haven't paid off those debts. And that created the recessions during the late 70's. Then Reagan overspent and created a boom, but then Bush Sr. and CLinton had to raise taxes to pay for it. Clinton is the only one who was fiscally conservative, and we had the best boom of all under him.

In short, Bush is a huge spender, huge borrower (from communist China mostly) and under-taxer (especially for the rich). He's just plain reckless. But why should he worry? He'll be long gone once the tsunami of deficits hits us in 2007-2008.
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