At 11:30 PM 7/21/2003 -0400 [EMAIL PROTECTED] wrote:
>I am arguing that Bush and his cronies are trying to make it so that they
will be in
> control of the country.
But how?
>We cannot spend 400 billion dollars a year without paying for it.
Actually, we can and have. The current deficit is only around 4% of GDP.
According to my recollection deficits reached 6% of GDP with regularity in
the 80's (and early 90s?) - and yet just 20 years later people were openly
speculating about paying off essentially all of the national debt.
Given that the US is simultaneously facing:
-the costs of paying for a homeland security system
-the costs of two wars (Iraq and Afghanistan)
-a recession and weak recovery
-deflationary pressures
It seems very reasonably to run a deficit of a mere 4% of GDP. You may
disagree with *how* that deficit is being spent, but ithe actual size of
the deficit does not strike me as unreasonable. If anything, it may be too
small.
JDG
_______________________________________________________
John D. Giorgis - [EMAIL PROTECTED]
"The liberty we prize is not America's gift to the world,
it is God's gift to humanity." - George W. Bush 1/29/03
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