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Politics : American Presidential Politics and foreign affairs

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To: TimF who wrote (25658)	2/4/2008 3:59:25 PM
From: DuckTapeSunroof	Read Replies (1) of 71588

Not as significant economically as this simple fact that BUSH'S OWN econometrics team reported to him: Unless he seriously reduced the magnitude of his deficit spending by the middle of the decade the interest alone on this mountain of new federal debt would overwhelm ALL of the beneficial economic effect of his relatively modest tinkering with the tax codes --- and out to the horizon for forecast economics, American growth would then be SUB-PAR compared to the status quo that he started with, before his policies were implemented. (And the 'war costs', again largely amenable to policy choices, were the far lesser influence on the projected growth rates of the economy.) THREE SEPARATE teams of economists (OMB, CBO, and TrendMacrolytics - the team hired by the WH to run a 'Laffer Curve friendly' model) all reported essentially similar results with their independent projections. The WH rejected all of this, and went with their own policies... they can't say they were not adequately warned about the effects to come.

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