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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: TimF who wrote (4163)8/7/2006 11:35:19 AM
From: American Spirit  Read Replies (1) of 224727
 
The tax cuts have not had any a positive effect on the economy. It's just paying with one hand and pick-pocketing with the other. And transfering more wealth to the very rich at the expense of the middleclass. Plus all the tax cuts are deficit spending in disguise saince Bush is spending more than Clinton did.

We were doing much better under Clinton when everything was paid for. What has juiced the economy under Bush is deficit spending. Mammoth amounts of deficit spending. 90 billion in one month a few months ago. And Greenspan was very generous to Bush lowering interest rates to almost zero. But those are history now. Amercians borrowed a lot and spent a lot just like Bush did. But now comes foreclosure time for many.

The problem is it's all temporary, unsustainable and none of it's paid for. The bill will come due later, after Bush leaves office, leaving his successor a fiscal nightmare.

Reagan also left with large deficits after a spending party. As a result, both Bush Sr. and Clinton had to raise taxes in order to finally balance the Reagan budget and right the fiscal ship. But GW Bush makes Reagan look fiscally conservative. GW Bush is the worst deficit spending of all time, in fact worse than all prior 42 president combined. Basically, our government is going broke. And the Bush borrow and spend party is coming to a close. Next comes the hangover.
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