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Politics : The Donkey's Inn -- Ignore unavailable to you. Want to Upgrade?

To: Patricia Trinchero who wrote (1840)	1/6/2002 11:07:25 PM
From: Mephisto	Respond to of 15516

"As the recession bottoms out, the fact that the government has lost control of its finances is going to act as a brake on the expansion that might be expected to follow. The blame game participants can argue causation all they want; the fact is, the government's house is not in order, and Bush is the president. Having frittered away a supposed $5.6 trillion surplus in this decade, the government is poised to begin borrowing money to cover deficits. That means that money generated in the economy that might be going into business investment to fuel recovery is going to be taken out of circulation by the government. And this textbook ''crowding out'' by Uncle Sam is going to have the secondary effect of making the capital markets tighter than they would be, which will make longer-term interest rates higher than they would be, further dampening the forces of recovery." globe.com.

To: Patricia Trinchero who wrote (1840)	1/6/2002 11:14:24 PM
From: Mephisto	Respond to of 15516

Last summer's tax cut was a disaster for the future of the US economy. Since the surplus has evaporated, we will all suffer, except for the very rich who were the beneficiaries of the Bush tax cut. Eventually, interest rates will rise, and most Americans will experience a lower standard of living because there will very little money to fund federal social programs or to help out state programs. Since less federal money will be available to the states, either our property taxes will increase or programs will be dropped. Homelessness and crime will increase as people's standard of living decreases. JMOP