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

To: Kenneth E. Phillipps who wrote (286637)	8/14/2002 10:28:46 AM
From: Baldur Fjvlnisson	Respond to of 769667

The cost of constantly being behind the curve: Bush is out of fiscal bullets. Spent way too early. Greenspan is out of monetary bullets. Was always clueless.

To: Kenneth E. Phillipps who wrote (286637)	8/14/2002 10:40:06 AM
From: DavesM	Read Replies (1) \| Respond to of 769667

Kenneth, I believe that you are simply incorrect. The unemployment rate that resulted after the 1929 market crash got as high as 25%. The unemployment rate that resulted after the market crash in the early 70's got as high as 9%. Today, 2 and a half years after the 2000 crash, unemployment is under 6%. Yes, giving tax breaks - during a recession, resulted in an increased deficit. But it also resulted in keeping consumer spending up, despite what experts had predicted. We are currently in deflationary times. In such an atmosphere, Federal Budget surpluses have little to do with interest rates. The Fed probably feels that they can continue to lower rates, as long as inflation is kept in check. For example, the Japanese Government runs huge deficits (and has for years), their interest rates are even lower than ours.

To: Kenneth E. Phillipps who wrote (286637)	8/14/2002 12:01:13 PM
From: jlallen	Respond to of 769667

Bull. The tax cut is not the cause of the deficit....