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Politics : Ask Michael Burke

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To: Skeeter Bug who wrote (109208)	9/21/2007 10:36:04 PM
From: Freedom Fighter	Read Replies (2) of 132070

Skeeter, >funny, i never hear cheney or bush talk about the devaluation of the dollar and exploding debt levels when out pimping their economy numbers...< I am totally against intentionally expanding federal deficits as a way of coping with economic weakness. I would prefer that the causes of unsustainable booms (fixing the monetary system for one) be addressed. However, if you think back to the beginning of his first term, it was the stock market bust (that he inherited) and then 9/11 that caused the whole mess. The economy was weakening and people were pretty frightened. Given the way things work politically in the US, I don't think it was such a bad idea to cut taxes and increase spending in the short term if the goal was to simply stabilize things in the short term. The mistake was in not reversing course (especially on the spending front) when things started improving. Then of course the war(s) added to the spending in a major way and ballooned the deficits further. It's very difficult for republicans to reverse course on tax cuts, but they are 100% responsible for the out of control spending once the economy recovered.

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