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

To: Kenneth E. Phillipps who wrote (610270)	8/25/2004 1:51:06 PM
From: michael97123	Read Replies (1) \| Respond to of 769670

"Even Bush admits that 25% of the deficit was caused by the tax cuts." Does anyone remember the post bubble economy, the effect of 9/11, deflation and depression worries? Being fiscally prudent and getting into arguments over every last dollar spent would have led to the double d's imo. Same with what were absurdly high tax rates that worked ok in boom years but were like an albatross around the economy that was coming. It would have been imprudent to leave taxes and not spend, so bush swallowed hard and spent like a drunken sailor while reducing taxes. It worked! And in the next administration, spending must be reduced without materially affecting tax rates. This is still a shaky economy and one unable to take a terror hit without going thru serious problems. I dont know why democrats cant see this. To talk now about raising taxes on the wealthy(define wealthy at 200K), and eliminating dividend tax relief while creating new entitlements that can only be funded properly thru increased spending is crazy. Mike