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

To: Peter Dierks who wrote (682604)	5/18/2005 9:42:23 AM
From: DuckTapeSunroof	Respond to of 769670

"Ok, then we should immediately transfer all wealth to the Wall Street big wigs?" What the Hell are you talking about Peter??????? Following the 'Reaganomics' principle of SLOWING the growth of government spending and borrowing, so government BORROWING doesn't 'crowd out' private demand for capital and force up INTEREST RATES throughout the economy and negatively affecting everyone... is not at ALL the same as "transfering all wealth to Wall Street big wigs", LOL!!!!!! It is just simple and prudent and parsimonious government. (We could user a Hell of a lot more of that!) "Perhaps you would prefer to compare the US economy to Argentina instead of Japan?" LOL!!!!!!!!!! Well, if you want to make the comparison between the US and Argentina... their economy COLLAPSED with a lower level of national debt then we here in the US have now. :( (Of course, the proximate trigger for that collapse was that too much of their debt was dollar denominated, which is not a factor here, our debt is in our own currency, and which the Feds will no doubt print and print and print and print, and 'drop from helicopters' if necessary --- to quote the famous words of a Fed Governor....) No, it would take an entirely DIFFERENT TRIGGER to catalyze our national debt problems into a crisis... (like China floating it's currency perhaps... permitting ALL the major currencies of Asia to adjust upwards against the dollar... and spiking our interest rates upward.)