A couple of things about that. One, there was no surplus. It was projected, not actual. All of that 1.3 trillion dollar business during the elections was not real.
Two, tax cuts should never be tied to surpluses/deficits or to the performance of the economy. That would have a disastrous effect. It should happen because giving people back their money and to let them keep more of their own money is the right thing to do. Three, we 'borrowed' or 'dipped into' the mythical Social Security fund. No such animal. It's all in the same pot called the general fund. We did have a social security surplus (meaning more money was collected from social security taxes than were payed out) and that's not a good thing. That money should be given back or, given the current state of social security, putting it away for a rainy day. Like when the baby boomers start to retire. Let it suck down some interest. Michael Corrigan Programmer Endora Digital Solutions 1900 Highland Avenue, Suite 200 Lombard, IL 60148 630-627-5055 ext.-136 630/627-5255 Fax ----- Original Message ----- From: Todd To: CF-Community Sent: Monday, March 11, 2002 1:39 PM Subject: Re: Nukes > What? How is taking money out of the federal government fiscally irresponsible? Again, that makes no sense! What IS fiscally irresponsible is spending more money then the government takes in! Congress has NO fiscal discipline whatsoever! I've read reports where up to 50 cents on the dollar is wasted and that has not a damned thing to do with tax cuts. And supporting lower taxes and smaller government does not make one simple-minded. > > What IS fiscally irresponsible is spending more money then the government takes in! This was exactly Ben's point. The government kept saying, "We have extra money. We're going to give some of it back to you. Elect us!" Well, there was no surplus, but the government handed out the money anyway. Unfortunately, they had to borrow money to cover it. So, now, the government owes money. That's what I'd call having to "pay for a tax cut". That clear it up for you? Todd > Michael Corrigan > > > Every economist worth a damn has called the Bush tax cut fiscally irresponsible. Face it, it was a ploy to get simple-minded voters > to elect him and it worked. > > Howie ______________________________________________________________________ Get the mailserver that powers this list at http://www.coolfusion.com Archives: http://www.mail-archive.com/[email protected]/ Unsubscribe: http://www.houseoffusion.com/index.cfm?sidebar=lists
