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

To: jlallen who wrote (9492)	1/23/2001 5:27:00 PM
From: Nadine Carroll	Read Replies (1) \| Respond to of 10042

You speak as if the surplus were a permanent fixture. It isn't. It only happened because the economy was booming, and there was a spike in income taxes and capital gains taxes collected. Not to mention the Social Security "loans", which the Treasury will have to repay someday (Can we all say "unfunded liability"?) If there is a military buildup, a large tax cut, and the economy softens at all (which it's already doing, and is likely to do far worse -- credit bubbles don't end gently) that alone is enough to create large deficits. And if on top of that, Bush diverts some of the Social Security tax into privatization, there will be very large deficits.