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

To: Thomas A Watson who wrote (174438)	8/26/2001 2:44:24 PM
From: CYBERKEN	Respond to of 769670

There is little economic difference between this and raising taxes moving into a recession. The only possible difference is that a tax increase reduces government revenues, and so drains less money than expected. The danger of either course is that monetary expansion is what is really needed. The current debate over whether $158 billion "is enough" the exact opposite of economic wisdom...

To: Thomas A Watson who wrote (174438)	8/26/2001 2:49:06 PM
From: CYBERKEN	Read Replies (1) \| Respond to of 769670

The Hoover administration successfully defended the federal surplus during the 1929-1932 economic catastrophe. That, and letting the banks go down the sewer, is what made the recession into a depression. The collapse of our money supply today would bring about similar results. The emotional clinging to the surplus today, as if it were some sort of economic savior equals the economic ignorance of that earlier period...