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Old 04-02-2003, 11:59 AM   #26
Elspode
When Do I Get Virtual Unreality?
 
Join Date: Dec 2002
Location: Raytown, Missouri
Posts: 12,719
The US budget deficit is due to causes too complex to blame on *any* single entity, including GWB. His tax cuts alone cannot possibly be held liable for the current deficit. The general downturn in the economy is mainly responsible as unemployment creates greater need for public assistance and fewer incoming taxes to our coffers. Low interest rates and poor stock market performance result in less money moving around and therefore less money being taxed.

I will concede that GWB probably could have picked a better time to propose tax cuts, but then it is the Republican party line that tax cuts put more money into the hands of those most likely to invest it and benefit the economy overall.

I'll believe it when I see it. Right now, the war itself is the biggest threat to the economy as it is draining off billions that could be spent on things right here (and yes, I know that American contractors in certain sectors are making out like bandits, but others are suffering...and so it goes).
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