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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Scumbria who wrote (129018)	3/4/2001 9:07:58 AM
From: pgerassi	Read Replies (1) \| Respond to of 186894

Dear Scumbria: You conveniently forget that Congress generates the budget. They write it, pass it and then send it up to the President. The budget suggested by the President may bear no relation to the one passed back. How many times has a Republican or Democratic Presidents budget been described by the House leadership as being DOA (Dead On Arrival)? More than 50% of the time when the President and the House are controlled by different parties. Even after a Presidential Veto, the Congress can override it if, it so chooses. Therefore all spending overruns and underruns are the responsibility of Congress and not the President. The President can effect the budget on the margins via the veto (when of a different party) but, only to the extent that the veto would not be sustained by at least 34% of one house (probably all of his party). Thus, if he goes too far, the moderates in his party would vote to override. Thus, the Republicans with the spending caps set in Bush Senior's last term, were able to stop the Democrats in Congress from overspending. Had the Democrats been able to win the 1994 elections and retain control of both houses, the spending caps would have been off for the 1995 and 1996 budgets and spending would have risen to completely eat up the tax increases and more. That the Republicans gained control of Congress is the only reason the budget was balanced in three years if you include SS and in five years if you do not. Thus the spending was restrained by the Republican Congress to far less than those big increases by the Democratic House since Eisenhower ($6 trillion almost all of the debt). Thus the budget was balanced in spite of Clinton not because of him. The 100% correlation between deficit spending and which party controls Congress, especially the House of Representatives, shows the true cause to be Congress and not the President. Remember it this time. Pete