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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: hmaly who wrote (134468)	3/12/2001 11:53:33 PM
From: tejek	Read Replies (1) \| Respond to of 1589124

Harry, Consumer confidence is worsening because the Naz went thru a major correction, and because the president and his pundits are saying we are in a recession and need a tax cut to get us out. ted

To: hmaly who wrote (134468)	3/13/2001 9:42:53 AM
From: Scumbria	Read Replies (3) \| Respond to of 1589124

Harry, Pay no attention to this. Government debt is meaningless anyway. The tax-cut opposition gained powerful voices Monday when former Treasury Secretary Robert Rubin and former Federal Reserve (news - web sites) Chairman Paul Volcker, speaking on behalf of the bipartisan Concord Coalition budget watchdog group, called Bush's $1.6 trillion plan too large and a risk to the economy. ``This tax cut can only be described as fiscally unsound,'' Rubin said at a news conference. Rubin and Volcker said a 10-year tax cut for a short-term fiscal stimulus to the economy is unnecessary. It would be better for Congress to provide a temporary tax cut covering the next two to three years, Rubin said, with an option of passing a second cut later if projected budget surpluses materialize. Opposition came on another front as well. A consumer health advocacy group, Families USA, said extra money from Medicare could be diverted for Bush's tax cuts, speeding up the bankruptcy of the health insurance program by 15 years. Bush administration officials insist that funds meant for Medicare would not be diverted, but Families USA disagrees, saying that in the next 10 years, a $526 billion surplus from Medicare would be shifted to a part of Medicare that would free up government money for uses such as Bush's tax cut plan. dailynews.yahoo.com Scumbria