Quote:
Originally Posted by keysync
I honestly don't' know where we were when bush started. Maybe bush spent all of the 10 trillion. in 8 years, I honestly don't know and haven't looked it up.
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I believe Bush inherited a balanced set of books and took it from there to a 10 trillion debt.
OK I'm not American, yet the point of Government spending effects most Western Countries.
Government spending is often borrowed money, Money businesses find hard to borrow. The money is injected into the economies of these countries. Providing jobs and business in so many sectors and parts of the country. It's now become a form of life support for a country.
So cut off the life support and then what. Where, how and effects will be the consequences?
Cutting taxes does not stimulate comparable growth. People work harder when they have to. Don't bring up the unemployed unless you can find jobs for all of them. Still there has to be some element of them contributing to society in return for society contributing to them.
Cutting taxes put more money in more pockets
that have jobs, to spend in local shops on imported goods. not basic items they currently buy.
To cut taxes without raising debts, needs cuts in spending. Which means cuts in jobs, maybe your job or part of your income. As it comes ultimately from Government spending. Yes the guy who works in the local Government office, buys online porn from or via you and now can't, because he lost his job. Where ever that guy spends his money, they lose business.
Which shrinks growth.
No "Cut taxes" propaganda slogans please and no stats from when the West exported more than it does today.