Re: Re: Re: Re: Re: Re: Re: From Today's NYTimes


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Posted by Bill on May 15, 2003 at 11:07:36:

In Reply to: Re: Re: Re: Re: Re: Re: From Today's NYTimes posted by Great article! on May 15, 2003 at 10:23:38:

Proving that two people with different ideological bents can read the same article very differently.

The post above mine seemed to imply that our current economic stress is directly related to the attack of 9/11. I don't know if that is true, and I was looking for some information on that idea.

"Harder to judge is the long-term economic impact of September 11 and the resulting buildup in defense and security spending. The question is whether the U.S. is again facing a tough choice between guns and butter--or the economic risks inherent in trying to have both. The danger is that the U.S. will wind up with military and security spending draining the economy, holding down private investment and consumer spending, and forcing draconian choices that will destabilize domestic political peace."

Long term deficits are bad for the economy. Whatever you think of government programs, they should be funded now, not on the backs of future generations. Short term deficits to stimulate the economy, sure. Long term deficits, no.

After President Clinton balanced the budget and provided a surplus, President Bush suggested a tax cut, "to give the money back to the American people." By the time the tax cut was passed, it was passed as an economic stimulant. Now we need more stimulus. This administration has promised a tax cut per year from 2003 onward. If you want to cut government programs, go ahead. But raise enough money to cover the budget. And this is not an issue of decreasing tax returns, Bush wants to end the tax on dividends at a time when we are at war and states are facing huge budget crises.

Bill Nazzaro in his best "Coffee Talk with Linda Richman" voice, "The Bush Short-Term Jobs Plan of 2003 is neither short-term, nor a job creation plan, discuss."


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