Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: DuckTapeSunroof who wrote (398612)	4/24/2003 11:00:39 PM
From: Mark Konrad	Read Replies (1) \| Respond to of 769667

Buddy, my compliments. Well put and I do agree completely. Now here's my thinking and I would again appreciate your thoughts: 1) I believe the economy does need across-the-board non-targeted tax reduction stimulus as the President has been pitching for a while now. 2) I also support the increased spending for defense as well as the wars on terrorism and the Afghanistan/Iraq campaigns. #1 is an admitted game of "chicken" betting on increased revenues from a growing economy to balance lower tax rates. I am also hoping GW will either be able to reduce federal spending with Congress now (something he keeps hinting at) or get enough fiscal conservatives in office in '04 to reduce spending before the budget goes too far overboard and the economy stalls again. #2 is somewhat of an investment, imo. A large front-end cost that should ultimately return savings in future years (putting aside the moral and humanitarian benefits for this discussion). Properly managed, the reduction in Middle East tensions as the apparatus of warfare are eliminated should result in less foreign aid to Israel, Egypt, etc., and less of a need for US military presence. Plus, there will eventually be a side benefit of growing commerce and trade with nations that are not perennially at war. This is admittedly a hopeful and longer term view but then again, a lot has happened in just 30 days. I think the size of the US economy (GDP) with the excess manufacturing capacity, productivity gains, unemployment rate and current interest rates buys us some time (even with the President's tax cuts) to work on #1 and build upon #2. To be quite frank, I thought Bush was a better choice than Gore but I did not expect him to manage the office as firmly, resolutely and efficiently as he has so far (gotta give him his due). What I am wondering (and hoping) is whether he will be able to run roughshod over Congress (that's really what he needs to do) and get both a tax cut AND spending cuts. And that is something President Reagan, for all his successes and popularity, was not able to do. Your thoughts?--MK--