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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: rich4eagle who wrote (130926)	3/9/2001 3:11:16 AM
From: Patricia Trinchero	Read Replies (2) \| Respond to of 769667

Here's proof that deficits don't work: Bush should take heed FRIDAY MARCH 09 2001 Japan admits economy is facing disaster FROM ROBERT WHYMANT IN TOKYO JAPAN is close to financial disaster after running up a huge public debt trying to spend its way out of stagnation, Kiichi Miyazawa, the Finance Minister, said yesterday. Issuing the most serious warning on the economy from a senior minister, Mr Miyazawa called for drastic action to reduce the public debt. “Japan’s fiscal condition is approaching a state of collapse,” he told parliament. “We have to make painful decisions.” It is exceptional for government officials to express concerns about the economy so forcefully, and Mr Miyazawa’s comments triggered a sell-off of the yen. The authorities have poured billions of yen into public works in a largely vain attempt to rescue the economy from its worst malaise in decades. Wasteful spending on airports, dams and roads has inflated public debt to the biggest in the industrial world. In the past ten years it has more than doubled to reach 134 per cent of Japan’s total annual economic output. Mr Miyazawa, who admits that he has presided over the build-up of the debt, did not elaborate on what reforms he thought were necessary but hinted that taxes would have to rise to stave off catastrophe. Alarmed by his candour, government colleagues rushed to put their own spin on his comments. Yasuo Fukuda, the Chief Cabinet Secretary, said Mr Miyazawa meant that “Japan would be in trouble if it didn’t do anything about its finances in the coming ten or 20 years”. But Toshiro Muto, the Deputy Finance Minister, told journalists that Mr Miyazawa was referring to the serious state of the Government’s finances. At one point the dollar rose above 120 yen for the first time in 20 months, helped by a growing view that Japanese authorities will tolerate a weaker yen. Despite Mr Miyazawa’s concerns, the Government is not expected to tackle the runaway debt before the July election for the Upper House. The nation lacks a leader capable of making tough decisions on how to clean up the financial mess. But even though the Liberal Democrats cannot agree on a replacement, the fate of Yoshiro Mori, the Prime Minister, is becoming clearer. After being condemned for repeated gaffes, he has agreed to go, probably next month.

To: rich4eagle who wrote (130926)	3/9/2001 3:01:06 PM
From: Lazarus_Long	Read Replies (1) \| Respond to of 769667

Let's start the rumble with item no 1, unless you earn more than 200K per or have a net worth more than 2M you are just a poor working slob. Oh, so THAT's how you get to such weird conclusions, you re-define reality. How about: If you earn more than $200K or have a net worth of more than $2M, you ain't poor. You may not be filthy rich, but you ain't poor. One of the wonders of the American capitalist system is that people can start poor and get to those numbers. If you earn more than $200K, you should reach a point where you are rich, though- -unless you have profligate, spendthrift Demlib habits. If you have those habits, yeah, you're in danger of poverty at any income or asset level. Most of the Republicans who think they are the backbone of America They don't think they are the backbone of America; they ARE the backbone of America. fit neither of these criteria thus they are just poor working slobs who think they rich and deserve the Republican moniker. By the standards of most Americans, they don't think they are rich, they are. And by world standards, they clearly are. Oh, and just what do you have to do to "deserve the Republican moniker", other than say you are a Republican? The Kennedy's are the exception to the rule, they understand too bad most other spoiled brats think they deserve all the money. I'm having trouble translating that gibberish into English, so I'm going to have to guess at what you mean. This started with "Those that are rich who never earned it are republicans You mean like that Republican Senator from Massachusetts, Kennedy?" Kennedy is hardly the only Old Wealth who is Democratic. He is hardly the only person who was born with a silver spoon in his mouth and then bit the hand that fed him. How about that Liberal God, FDR? The Roosevelts ave had money since God was a pup. And there are plenty of others.