Quote:
Originally posted by theking
While, in my considered opinion, removing Saddam from power is desirable, I do think that Bush is an abject failiure when it comes to diplomatic skills. He could not even convince our closest neighbors to get on board. I also think he is an abject failure when it comes to this Nations economy. He totally blew what was only a projected surplus over a ten year period and has put us back into deficit spending. I believe our economy will go even deeper into the tank while he is in office. Remember this at the next Presidential election. By the way I am not very pleased with the current Democratic Presidential hopefuls and can only hope that one finds their way into the arena.
|
We had a surplus because of the DOT COM explosion... everyone made more money... Everyone paid more taxes. When the economy shrinks tax revenues go down.
Even if the spending were the same we'd likely have deficit spending!
9/11 and our war on terrorism COMBINED with the reduction of tax revenues due to tax cuts but mostly due to the lowered overall earnings is why we have a deficit.
Deficit spending is not necessarily a bad thing. We could have a nice balanced budget if we cut spending, but how would more terrorist attacks effect the economy?