-Caveat Lector- http://www.accessatlanta.com/ajc/opinion/0203/25special_young.html
All pay more when nation doesn't pay its bills "He's a true believer. Tax cuts are religion to him. They were his mission when he pastored in a smaller chapel, the Texas statehouse." By JOHN YOUNG Until further notice, Alan Greenspan has replaced North Korea in the "axis of evil." Or so one would assume from Republican reaction to the Federal Reserve Board chief's opposition to cutting taxes right now. Some analysts say Greenspan has put his job on the line. For the crime of heresy, at reappointment time next year he may be replaced with a supply-side cleric who believes in Bush's faith-based economic policy: Cut taxes. Pray real hard. Greenspan, who has been more than malleable about Bush's leaps of faith, may realize that he made a mistake last year endorsing a $1.35 billion tax cut. That tax cut helped stoke deficits as demands for homeland security and national defense went through the roof. Considering these deficits, that Bush could be considering a war while pounding the boards for more tax cuts would seem incomprehensible. But then, he's a true believer. Tax cuts are religion to him. They were his mission when he pastored in a smaller chapel, the Texas statehouse. But the fact is that in a deficit situation, with war looming, Congress actually would be raising taxes if it conceded to Bush his fiscal fantasy. Congress would be raising taxes on Americans yet born. Call it the debt tax. An American family of four must pay about $4,500 a year to service the national debt. You hear fiscal conservatives rail all the time about dubious pork that accomplishes little toward the public good. How about hundreds of billions of dollars each year that do nothing but service debt? Talk about lost productivity. The Bush fiscal 2004 budget shows no inclination to rein in this problem. The federal debt could accrue an additional $2.1 trillion in the next four years, even without the new tax cuts he wants. That budget also doesn't figure in Desert Spring -- not a manly deodorant soap, a Pentagon moniker for the pummeling and rebuilding of Iraq. The insidious nature of Bush's faith-based economics is that someone has to pay off the bill with interest when the books don't balance. Scott Burns calls it "fiscal child abuse." He must be some nutty advocate at the Children's Defense Fund, right? No. Burns is a financial columnist for the Dallas Morning News. "There are people who are Nows. And there are people who are Laters," he write. "The Nows . . . are well represented because they are voters. "The Laters are unheard. They aren't heard because they don't vote. They don't vote because they are our children and our children's children." Burns points out that the $1.35 trillion in tax cuts over 10 years approved last year could have paid down debt and better secured Social Security. Instead, all it did was reward the "Nows" with immediate gratification. "Unfortunately," he wrote, "there was no comparable reduction in the benefits promised to people in the future. So we reduced taxes now and left a gigantic obligation to future taxpayers who weren't there to vote." That is what's evil, not Alan Greenspan pointing out that it's foolish. John Young is editor of the Waco Tribune-Herald "If this were a dictatorship, it'd be a heck of a lot easier, just so long as I'm the dictator." -GW Bush during a photo-op with Congressional leaders on 12/18/2000. As broadcast on CNN and available in transcript on their website http://www.cnn.com/TRANSCRIPTS/0012/18/nd.01.html Steve Wingate, Webmaster ANOMALOUS IMAGES AND UFO FILES http://www.anomalous-images.com <A HREF="http://www.ctrl.org/";>www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance—not soap-boxing—please! These are sordid matters and 'conspiracy theory'—with its many half-truths, mis- directions and outright frauds—is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://peach.ease.lsoft.com/archives/ctrl.html <A HREF="http://peach.ease.lsoft.com/archives/ctrl.html";>Archives of [EMAIL PROTECTED]</A> http://archive.jab.org/[EMAIL PROTECTED]/ <A HREF="http://archive.jab.org/[EMAIL PROTECTED]/">ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om
