OT--Great headlines everywhere
Bush is predicting the deficit will be reduced in half by 2006...even while
maintaining the current tax rates and spending habits. Let's see if he's
right. I, for one, believe he is.
We can't get well simply by reducing the rate at which we drop into the hole.
Reducing the budget deficit by half only means that our national debt grows
more slowly than at present. Instead of going 2.64 billion into the hole every
day, we only drop 1.32 and think that's wonderful?
We must run a surplus, and use the surplus to retire the debt. Any other course
is voo doo economics.
If we run a surplus by cutting taxes $100 billion and then cutting expenses by
$200 billion, then fine. You can have your precious tax cut, and we can insure
the long term economic stability of the nation at the same time. If we cut
taxes $100 billion and then increase govt spending by another $100 billion- we
need to clean house all over the hill and put some adults in office. WH and
congress.
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