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To: TigerPaw who wrote (5123)10/26/2000 12:05:32 PM
From: Bernard Levy  Read Replies (1) | Respond to of 5853
 
I would not call either reasonable or balanced
to have the Fed Govt revenue at the highest level
as a percentage of GNP since WW2. Al Bore's unwillingness
to perform structural changes in the Social Security
and Medicare programs will ensure that ultimately
this will get worse and worse.

Also, as Reagan understood well, the only way to ensure
that the Fed Govt controls its spending is to take
all its money away. In times of deficits politicians
worry about cutting spending. In times of surplus,
they worry about spending more and more. Exhibit
#1: the orgy of spending initiated by Gray Davis in CA
as soon as the state went into surplus.



To: TigerPaw who wrote (5123)10/26/2000 12:43:11 PM
From: willcousa  Read Replies (1) | Respond to of 5853
 
I do not agree that the Clinton-Gore tax policy is more balanced. What do you mean by balanced?

Yes, Reagan did cure 20% interest rates. While these may be great for passive investors in the short run, they are lousy for the poor and those who are the engines of the economy and are lousy for all in the long run.


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