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

To: Jerrel Peters who wrote (386519)	4/6/2003 12:15:30 PM
From: American Spirit	Read Replies (1) \| Respond to of 769667

I'm no economist but recoveries dont happen with massive growing debt and deficits. CLinton turned that around. Yes Bush Sr. raised taxes first and started balancing the books to pay off the Reagan era debt, paying off the S+L debacle and for all that military build-up, shutting down COld War military bases, etc. But the recovery didn't happen until Clinton went AGAINST the GOP congress, raised taxes and won the markets' confidence. That set the stage for the biggest boom of our times. GW Bush will not stop pushing his massive deficit-funded tax cuts, no "read my lips" and no slow-down in military spending. He will stubbornly stick to his guns and guarantee we're in a deep hole by election time. So no recovery during the GW Bush years. Today's report I read predicts no post-war boom. We're losing jobs at 100,000 per month and until that's reversed, recession and deflation. But the real estate bubble could burst and interest rates could start climbing. Hasn't happened yet but may by next year. Also, the cost of this war and its aftermath will be like a long cold rain on the economy, maybe 400 billion more in deficits by election time. So Bush is looking at a 1.2 trillion deficit for his four years plus about 7.5 trillion in federal debt. Again I'm no economist, but I wont be buying stock until Bush's estate tax cuts are rescinded or at least cut in half. Symbolically, that would also show fairness as the ones to gain from that tax cuts are the 1% richest families. Those people we need to help pay off our debts. If they dont, it falls on the backs of the middleclass who are hard-pressed now, and we need them to be active consumers. Or else. Lastly, the global economy has been paralyzed and Bush's going against the UN hurts even more. And I just dont see the Bush Administration having the energy to do the homework and hard work to get the economic ship righted again. Their priorities are in other areas. And this Treasury Secretary Snow is just a Bushie/Carlyle Group yes-man. If they do start trying it will be too little too late.