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Politics : Al Gore vs George Bush: the moderate's perspective -- Ignore unavailable to you. Want to Upgrade?

To: cosmicforce who wrote (2762)	10/17/2000 9:12:29 AM
From: Hawkmoon	Respond to of 10042

Funny how Mr. Bentsen failed to mention that when Reagan cut taxes 25%, he also wanted to cut the Federal budget by an equal amount. He was able to achieve the tax cut, but the Democratic congress would not permit the budget cut. And then we have that intersting question as to exactly how much of the growing debt was due to the surplus SS taxes being slapped into T-Bills and the money pumped into the general Federal budget as an IOU to be paid off later. There are basic differences in how money is spent in the economy. Once the government get its hands on it extra money it becomes a tool to gain political votes through pork barreling and special projects. By permitting money to remain in the hands of individuals, through guided investment programs where the government is able to "force" the taxpayer to invest that money and not spend it. This would limit govt interference in the economy through it's purchase of T-Bill IOUs, or putting the surplus SS funds into equity indices. cato.org Please note that in the above report, it shows that the SS trust fund will contain $2.9 trillion or roughly 2/3 of the current existing debt. That's $2.9 trillion of national debt that will ALWAYS exist until the social security liability is reduced by the passing of the baby boomer generation. And in fact, since this report is from 1997, that number will probably amount to more of a percentage of the national debt. Regards, Ron