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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Bobby Yellin who wrote (7262)	8/20/1999 8:02:00 AM
From: Alan Whirlwind	Read Replies (1) \| Respond to of 81220

Bobby, anyone who thinks the '90's prosperity was a creation of WJC is disregarding reality. It was he who obviously has been the prime beneficiary of "Voodoo Economics." I am amazed at how some people look back and whine and whine about Reagan screwing up the economy and saddling us with debt. Reagan did attempt early on in his administration to cut, cut, cut spending and did get a few cuts through, but it was hopeless against the tide of porkbarrel spending congress has been so well known at least ever since I've been around. I agree military spending was high under Reagan--way too high. But it did away with the Soviet Union and without firing a shot and without the loss of one serviceman. This was an astounding feat and one that never could have occurred so rapidly and so decisively under a Clinton. I sometimes think every one of these yapping young journalists and reporters who decry Reagan so much should be forced to live the 4 Carter years when there were no jobs, extremely high interest rates, and soaring store prices--rising weekly. I really never want to relive those years as they were the worst I ever had to go through. Carter's deficits, when one takes into account the higher value of the dollar and smaller economy of the country back then, were no better than Reagans. Carters own deficit projections into the four reelection years he hoped for were skyrocketing ones. As for tax cuts, I say give back to the people's pocket books as much as possible. It's their money. People forget so soon how they are bamboozled by political rhetoric in this regard. Remember earlier in the '90's how they raised Federal gasoline taxes by a nickel and how Clinton stood there and told the public how this money would be set aside to pay off the capital on the Federal debt and how people believed such hogwash with such glee? Any fool could see that a country that regularly borrows huge sums to keep the itself running could never even get to the point of starting to pay off its debt just by initiating another tax. Why not triple or quadruple all taxes and get this deficit paid off? I think everyone knows the sad answer to that question. I hear tales of surpluses for years to come, but somehow I wonder if the next recession, sure to come when least expected, won't mire us deeper just when our expectations were the opposite. --Alan