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I would agree with mystarimatt for the most part, but there is one thing that you have not touched on.
And that is deficits.
And this is something that governments, and in particular presidents have DIRECT control over.
Under George W Bush, the American deficit has soared to over 500 billion dollars annually.
That is unreal.
Clinton was running surpluses, Bush is running massive deficits AND giving out tax cuts to mainly the rich folks in the USA. Now this is a disasterous economic policy that you can lay squarely at the feet of W Bush.
Yes, I know that revenues are falling, and i am especially aware that the USA was attacked on September 11, BUT.....
If you want to play, you have to pay. If you want 500 billion dollars of extra goodies, you have to come up with 500 billion dollars of new revenue.
It works pretty good in the household, it will serve a country the same.
You have to live within your means.
I can not understand for the life of me the sense in cutting taxes while you are in deficit mode.
Essentially George W Bush is borrowing money to give rich people a tax cut.
If inflation rears it's ugly head in the USA you had better watch out because Allan Greenspan will start to raise interest rates to control inflation. He will have no choice. Greenspan (a republican) has consistently warned against deficit spending and how much of a hinderance to growth it is, but Bush doesn't seem to be listening.
If Greenspan starts raising rates when the economy is so weak (and has been week for 3 years), it will be devestating to industry, consumers, AND the US federal gov't who's 500 billion plus loan is going to start costing some very large interest dollars.
That will be a one two punch.
At 500 billion a year, the DEBT (and I am not sure what that is in the USA) is going to grow at an astonishing rate.
Who is going to pay for this???????
All so some guy can have a tax cut and go out and buy himself a new TV???
It's nuts
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