Thursday, November 06, 2003

The Economist on Bush's Fiscal Policy

Irresponsible, with no end in sight.
More sober analysts are also worried. In their most recent poll, members of the National Association of Business Economists described the federal deficit as the biggest problem facing America's economy. A bipartisan coalition of three economic think-tanks—the Committee for Economic Development, the Concord Coalition and the Centre on Budget and Policy Priorities—recently declared that, without a change in course, the next decade might be the “most fiscally irresponsible” in the country's history.

More:
. . .Although Team Bush wants a reformed tax code, aimed at consumption rather than income, their strategy of tax reform via tax cuts will not produce a clean reform. Many of the subsidies and loopholes of the current system will remain. The result will be a narrower tax base, full of distortions, which shifts the burden of taxation towards poorer Americans.
(my emphasis.) President Bush specializes in injustice.

Don't be hateful to people, just because they are hateful to you. Rather, be good to each other and to everyone else. Always be joyful and never stop praying. Whatever happens, keep thanking God because of Jesus Christ. This is what God wants you to do. --1st Thessalonians 5:15-18 CEV