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Politics : Foreign Affairs Discussion Group

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To: mistermj who wrote (211889)	1/6/2007 9:51:27 AM
From: michael97123	Read Replies (1) of 281500

Reagan used debt to squeeze excess spending out of govt. Bush used debt to finance a war while like LBJ giving us both guns and butter. We will probably pay a price for this in a post war period if post war ever comes. In any case we have to start to wean ourselves off debt soon and not adopt the "radical" paygo measures the dems are proposing. In a dem congress, Paygo will end up controlling some spending but more importantly will raise taxes (end brackets and dividend/cap gains) thus causing recession. Guys like rubin and now paulson understand this well methinks. Pelosi and Rangel (who i love as a person) are clueless i am afraid. So you and Kumar are both right.

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