about that surplus

iVillage Member
Registered: 03-19-2003
about that surplus
18
Sun, 10-24-2004 - 6:17pm

Wrong on the Surplus


Kerry claimed Bush "has taken a $5.6 trillion surplus and turned it into deficits as far as the eye can see." But the country never actually had

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iVillage Member
Registered: 03-26-2003
Sun, 10-24-2004 - 8:27pm
I would love to try and explain the principles of macroeconomics here but I fear it would fall on deaf ears (not to mention I am no expert but understand enough to recognize the hype.)
iVillage Member
Registered: 06-22-2003
Sun, 10-24-2004 - 10:18pm
I'm so tired of hearing people talk about how great the economy was under Clinton and what a mess W has made of it all. I remember staying up late on election night in 2000. When I finally went to bed I hoped Gore won just so he would have to deal with the recession that was obviously coming. (I knew if Bush won he would get blamed for things that happend before he ever got into office. I guess it happens to any President.) I lived in San Jose (Silicon Valley) at the time and it was very clear that the bubble had burst. People had made fun of my husband for sticking with a big corporation when everyone else was going in on all the start-ups. Then in 2000 all those people came back and asked if my husband could help them get a job. How did Bush have control over investors coming to their senses and realized that most of the internet companies were never going to return their investments. Then on top of that 9-11 came and compounded the problem. How anyone can look at the economy today and not take into account the huge impact that had is beyond me. I don't believe the president has power to control the whole economy, but I believe Bush has done everything he could to keep this country from seeing another great depression. Things aren't perfect now, I would love to see a reduction in the deficit, and what a better way to get there than to continue to imporve the economy.
Avatar for mom2noodles
iVillage Member
Registered: 03-25-2003
Sun, 10-24-2004 - 10:22pm
Just curious here -- how does GWB plan to get

Carrie, Mom of Alex & Anna

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iVillage Member
Registered: 06-22-2003
Sun, 10-24-2004 - 10:57pm
After reading your post I started looking for specific things Bush would do. He hasn't said. I did find a quote from a speach he gave.

Now, you hear talk about deficits. And I'm concerned about deficits. I'm sure you are, as well. But this nation has got a deficit because we have been through a war. And I told the American people we would spend what is necessary to win the war. We weren't going to hold back so our soldiers were -- didn't have the right equipment and the best training and the best possible pay. (Applause.)

And we had an emergency and a recession, which affected the revenue growth of the U.S. Treasury. I mean, the stock market went down. Some of the pie-in-the-sky projections didn't make, and the investors said, oops. The numbers weren't real. The investors said, well, it looks like the days of everything is going up may end. And so people started selling, and the markets went down. That affected the revenues coming into the U.S. Treasury. Recession -- negative growth means less revenues. And so, of course, we've got a deficit. But I know we can grow out of the deficit with wise policy.

And the best way to deal with the deficit is to address the two things that affect the deficit. First, increase revenues to the Treasury through economic growth and vitality. And that's what we discussed here today. And second, make sure Congress does not overspend your money. Make sure it focuses on the things that we need and doesn't spend beyond the things that we need. The best way to solve the deficit is to grow the revenues coming into the Treasury through economic vitality and have fiscal sanity in Washington, D.C. (Applause.)

ttp://www.whitehouse.gov/news/releases/2003/04/20030424-3.html

I realize you want more than this. I would like more too, but to be fair Kerry hasn't been specific either. From what I saw the plan outlines are pertty close. If anyone has more information I would be interested in seeing it.

Avatar for momeebear
iVillage Member
Registered: 03-25-2003
Sun, 10-24-2004 - 11:09pm
I was just asking something similar on another board today, how can the war continue to be financed without raising taxes? Thinking back on my admittedly limited knowledge of history (school was long ago!), can't recall any other administration CUTTING taxes in a time of war?! I guess I really don't have that big a problem with taxes.....though it's a dirty word to a lot of people, to me they are just a necessary evil.
Avatar for mom2noodles
iVillage Member
Registered: 03-25-2003
Sun, 10-24-2004 - 11:13pm
Nope.

Carrie, Mom of Alex & Anna

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Avatar for mommiemel
iVillage Member
Registered: 03-26-2003
Sun, 10-24-2004 - 11:33pm

"I think the problem is the President is grossly underestimated and frankly smarter than most of the electorate."


Bwaaahhhaaaa!!!!

snowy.gif picture by mommiemel
Avatar for mom2noodles
iVillage Member
Registered: 03-25-2003
Sun, 10-24-2004 - 11:35pm

Is there more than one?!?!


ROFL.

Carrie


Proudly voting for...


Carrie, Mom of Alex & Anna

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Avatar for mommiemel
iVillage Member
Registered: 03-26-2003
Sun, 10-24-2004 - 11:37pm
You and I and many of the citizens of this country *know* there are MANY more words, lol.
snowy.gif picture by mommiemel
iVillage Member
Registered: 06-22-2003
Mon, 10-25-2004 - 12:59am
"Tax rate increases of sufficient dimension to deal with our looming fiscal problems arguably pose significant risks to economic growth and the revenue base. The exact magnitude of such risks are very difficult to estimate, but they are of enough concern, in my judgment, to warrant aiming to close the fiscal gap primarily, if not wholly, from outlay restraint. At the same time, the dimension of the challenge, especially in later years, cannot be underestimated. The one certainty is that the resolution of this situation will require difficult choices, and the future performance of the economy will depend on those choices."

Alan Greenspan

http://www.federalreserve.gov/boarddocs/speeches/2003/20031106/default.htm


Having an economy moving in the right direction is more important than than not having a deficit.

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