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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: roto who wrote (43946)	7/5/2007 1:05:47 PM
From: koan	Read Replies (1) \| Respond to of 78426

GQC on a tear. Yes, had clinton stayed in office we might almost be out of debt. I think his last surplus was $267 billion (from old memory and might not be right). The congressional budget Office (CBO)-a non partison office)said most of the debt the US has is from the huge tax cuts to the rich bush did right after he took office and not the wars. And they made the point it was not the iraq war or any thing else as much as the tax cuts. Now if you add to that the belief by many eoconomists that the tax cuts did little (as they went to the very rich mostly 1/10 fo 1% who do not need to spend) then we might have been almost out of debt now. What is also interesting is that bush really never had a viable secretary of the treasury. I think that was on purpose as he did not want anyone telling him not to cut taxes or what to spend, or even watching what he and cheney were doing! Cheney is quoted as saying; "Reagan taught us deficits do not matter (reagan ran up 2 trillion in debt in just 8 years using supply side economics and bush sr followed with another one trillion during his four years. Carter was running only 50 billion a year and when Reagan came in he did two things: 1) he cut 100 billion in taxes on the rich and corporations 2) he increased defense spending by 100 billion. so debt went from 50 billion a year under carter to 250 billion under both reagan and bush. 3 trillion thsoe two added in just 12 years and everyone thinnks dems are big spenders-lol. Not everyone knows that history, but it is very important. Arthur Laffers supply side economics has been shown to be completely wrong.