Date registered: Sep 2004
Vehicle: 83 Astral Silver 280 SL
Location: Planet Houston
Mentioned: 0 Post(s)
Quoted: 8 Post(s)
RE: The Euro dropped again...
I am simply saying that as long as the tax policies of this adminstration stay in place, the economy will remain stagnant due to Bush's tax policies. If the current Congress makes Bush's tax cuts permanent the international financial community is going to go ape shit. We have created 2.3 trillion dollars of public debt, a staggering sum, over the life of these tax cuts, with no perceptable economic benefit. The current budget is truly frightening, with a deficit of 400 billion, a figure that always turns out to be off by tens of billions, and this time Bush and Co are also cooking the books by not adding the cost of the Iraq War, another 200 billion, to the deficit, and if his Social Security reforms pass, the costs of it will add another $300 billion, making the terrifying prospect that the USA will run a ONE TRILLION DOLLAR deficit a reality. Like the fools who ran this country in the 1920's, we are moving into uncharted economic waters.
Recall that earlier generations faced down fascism and communism not just with missiles and tanks, but with sturdy alliances and enduring convictions. They understood that our power alone cannot protect us, nor does it entitle us to do as we please. Instead, they knew that our power grows through its prudent use; our security emanates from the justness of our cause, the force of our example, the tempering qualities of humility and restraint.
-President Barack Obama, 1st Inaugural address