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Old 07-13-2002, 06:36 PM
exlrrp exlrrp is offline
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Default $165 billion deficit???

? $165 Billion Budget Deficit Projected By White House???????? This is APPALLING!!!!
I?m reading this right??? $165 billion dollar deficit on Bush?s VERY FIRST BUDGET????? Budget deficit was supposed to be a thing of the past!!! It sure was under Clinton. Bush has had 8 solid years of 19% average growth before this with last years budget surplus a whopping $121 billion?that means?let me see, 165 plus 121 =HEY!!?We went in the hole $286 billion since the last time the budget was put together by a Democrat President. This current years deficit, by the way, in no way can be blamed on Democrats--as of yet, they haven?t even touched it.
This is a complete repudiation of ?The Greatest Tax Cut in History-the ?greatest tax cut in History? is a direct cause of this, EXACTLY as I said !
The proof? I Quote: (SF Chronicle,7/13) ?Nearly all the decline [the administration budget analysis said] would come from individual tax receipts.? And where was the tax cut??
YES YES YES!!! I said it then, that if you cut taxes national income drops?WELL DUH!! And you said it would go up!! Helllooooooo?YOURE WRONG!! WAY WAY WRONG!!!? And this is exactly what has happened only now we are worse than we started?MUCH worse-- Your economic policies are disastrous and more of the same next year!! ($165 billion deficit again according to Senate republicans!) What the [heck] is up with this??. This is badm really, really bad
Lets crunch some #s here!! That average $600 tax return we got last year you thought was so wonderful?? If we divide $165 billion deficit by 256 million ( the population of the US) we get:$644.53?that means that you are now $44.53 IN THE HOLE!!!!! And now youre paying bank interest, too!!! (on the $644.53!).but these #s are wrong in your favor too because only taxpayers got refunds but this debt is EVERY man woman and child's!!This is just reallly a rotten performance by anyones standards and I have to ask?is this the best you can do?? You led everybody to believe things were going to be wonderful again. Its Not!! Its LOUSY!! By this time the republican wolves were on Clinton?s throat and where are you now?? This is a DISMAL economic performance, completely dismal?can you spin it ANY other way (hint: it?s the Democrats fault? I DON?T THINK SO!).
Are you better off than you were a year and a half ago??? Not hardly!!! My stock value is down 24% and that?s because I was lucky?thank god I own real estate and have other investments?I?m a financial conservative.

By this humongous deficit the first time out, the Republicans are definitely abdicating ANY claim to financial conservativism, any at all. A financial conservative pays as he goes!!! Is that not right? What kind of airhead runs up a huge credit bill rather than cutting his expenses or raising revenue? This will only mean one thing for George bush?he will have to rescind the tax cut and /or raise taxes to balance the budget?WHICH HE IS REQUIRED TO DO!!!!! He can not have it both ways.That?s what I assume you elected him for?ITS NOT HAPPENING!!!! This is AWFUL!!
And where the hell are you Republican budget hawks??? That talked so big in ?95??You crow all day about stopping the Clinton rise in spending in ?95. Your claim to have been the party that balanced the budget fades off in a bull manure sunset!! The deficit only rises during republican times and decreased in Clinton times?look at the record! Doesn?t matter who?s in Congress.
You won?t get a balanced budget if the president doesn?t propose one?Ive argued that with conservatives for years. This should also put the lie to ?the democrats pork always screwed reagan and Bush? BS also. Reagan had the Senate untill ?87 and missed the House by a small majority untill?86. reagan NEVER proposed a balanced budget, bush neither--not once.
This is just a rehash of reaganomics all over again?Tax cuts plus increased military spending equals huge deficit, end of story.. Even GHB called it voodoo economics. The term ?smoke and mirrors? originated here.
I call on Republicans to balance the budget as you promised!! Let Bush propose a ballanced budget or make way for someone who can!!Clinton did it, why can?t Bush? You were handed a huge surplus. (same republican House!, republican senate but one!) And if you republicans can?t do , you should get the hell out of economics. I call on George Bush to be held as personally responsible for the budget as a CEO should be for the budget of his corporation!! He was given a surplus economy and he?s created a deficit economy, there?s no way to spin these numbers different.
Do you know that 21% of all our expenditures go to national debt service?that?s 1 out of every5 $$ spent!! If you guys can make the national debt go away I?ll be the first to call for a 21% tax cut. But not untill, we can?t afford it. You guys are going to lose these midterm elections big with this bad a performance, I can see it. George Bush will never produce a balanced budget, I?d bet money. Does NOT know how to do it!! His dad couldn?t and he can?t.


James
Happy just to be alive.
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