The American Spectator

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While the Reagan tax cut may have spurned some economic growth through the 1980s, the cost was not worth the ballooning of the federal deficit. In FY 1980 the deficit was nearly $1 trillion. In FY 1990 it was more than $3 trillion. That's because in order to prime the economy, the Reagan Administration let the deficit grow at a rapid pace -- 60% growth over his eight years in office. Add the term of the first President Bush into that equation and the number jumps to 75%. During the Clinton Administration, the deficit increased by a mere 22%. From 1950-1980 the federal deficit grew more or less with inflation.

p>What does this mean? Anyone who looks at the numbers will see that tax reductions don't lead to revenue increases unless borrowing is considered revenue. This kind of thinking is what got Enron in trouble. br> -- Ben Burney br> New York, NY /p> p> President Bush gave a remarkable speech to the Economic Club of Chicago on Tuesday. As RET points out, tax cuts will surely bolster the economy -- you can look it up. What was remarkable to me is the tribute the Prez paid to Mugsy (Rich) Daley and Bugsy (Bill) Daley. Does he actually think he can be buddies with these guys? Until November, Bugsy's best friend was Tom Daschle. It was Bugsy who tried to steal the election in Florida from Bush. Mugsy presides over the most corrupt city in the country. The Daleys will take federal money -- but Bush will find no loyalty. br> -- Jack Hughes br> Chicago, IL /p> p> Democrats think of tax cuts the way Saddam Hussein thinks he is going to defend Iraq. Hussein is acting as if being surrounded in Baghdad is a valid military strategy. But any general will tell you that this is quite the opposite of the way a rational person would think, just as egghead leftist economists are telling us irrationally that tax cuts are going to hurt the economy. Have you noticed how nervous and subdued Hussein looks these days? Kind of like the Democrats looking to 2004. br> --

topics:
Taxes, John McCain, Nancy Pelosi, Business, Religion, Hollywood, Constitution, Military, Iraq, NATO, Energy