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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Joe NYC who wrote (103670)	4/11/2000 9:38:00 AM
From: Scumbria	Read Replies (2) \| Respond to of 1570334

Joe, Bush senior got the Congress to agree to a strict budgetary discipline, which Congress abided by until recently. I have to disagree. Clinton pushed the very unpopular 1993 Deficit Reduction Bill through Congress, at huge political expense to himself and the Democratic Congress, and without a single Republican vote. This bill was so unpopular that it caused the Democrats to lose both houses of Congress in the following year's election, and gave the Republicans cover to begin a 5 year long witch hunt. It also caused Greenspan to take his finger off the trigger, and ended the budgetary panic which the US had been in since 1991. It was the lack of discipline that caused the deficits in the first place. There is a danger that the same lack of discipline on part of the Congress is coming back. That is exactly what concerns me about George Jr. and his big tax cuts. The last thing we need now is to stimulate the economy, and give the Fed cause to raise interest rates further. The Fed will not tolerate a faster growing economy than what we have at the present. Scumbria