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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (44613)	8/2/2010 8:35:53 PM
From: TimF	Read Replies (1) \| Respond to of 71588

IF there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cuts would amount to a bankruptcy filing. Tax cuts are not something that is unaffordable. The spending is unaffordable. Tax cuts may contribute to that problem, but they are not themselves spending anything, so "unaffordable" doesn't really apply to them. The second unhappy change in the American economy has been the extraordinary growth of our public debt. That much I agree with. Debt and deficits as high as they are now are certainly unfortunate. Soon, the neocons were pushing the military budget skyward. "Skyward" is probably a bit much, even the fairly solid Reagan buildup was only a blip up in the long term trend of defense budgets taking less of our GDP and esp. a declining percentage of federal spending. The fourth destructive change has been the hollowing out of the larger American economy Except there has been no generally hollowing out.