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

To: Kenneth E. Phillipps who wrote (442330)	8/13/2003 1:17:04 PM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 769667

the revision of the deficit from 300 billion to 450 billion, I believe was directly related to congress's lack of understanding of the offshoring. The upwards revision was not the war, the war was costly but they planned and budgeted for it. But the treasury sec thought that jobs would come back, like this was a cyclical recession- WRONG. Maybe if Bush had hired a smart, young team like Clinton had in Rubin and Laura Tyson, vs. his old crony friend who comes out of the 70s... they might have had a clue. Anyway jobs will continue to bleed recovery or no and with our lovely US regressive tax base, tax receipts will continue to disappoint congress. You know I think that had Bush not kept the US in a PERPETUAL STATE OF WAR, the economy might have snapped back nicely in 02 sometime. Had that happened, we would not be in this offshoring quagmire. It is only the fact that this depression went on for SO LONG, and it was exascerbated by Bush policies. The last time we had stagflation was the 70s and here it comes again. We probably get a tiny spike in hiring at some point and continue down.