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Politics : Impeach George W. Bush -- Ignore unavailable to you. Want to Upgrade?

To: jttmab who wrote (1765)	2/10/2001 4:44:14 PM
From: Lazarus_Long	Read Replies (1) \| Respond to of 93284

Pardon me, but the discussion I was engaged in (and have resigned from because you couldn't blow those "minds" open with nuclear weapons) was about the stock market and economic slump. I never said I agreed with Bush about the tax cut. It is excessive. Were it actually to be financed by cuts in government spending, I would consider it good; however, tax cuts never are. Instead the governments borrows money to make up for the shortfall in revenue and we're quickly back to deficit financing. The consequences of that are higher interest rates and we know where that leads- -we're seeing it now. An alternative to borrowing is to simply print the needed money. This has an immediate stimulatory effect (which, given current circumstances, makes it likely), but longer term also can raise interest rates and/or cause inflation. Frankly, I'd prefer things be left as they are and that that HUGE national debt be paid down.