RE: Lowering Taxes.... beware

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RE: Lowering Taxes.... beware - 10/29/2008 12:40:25 PM

SilverMark

Posts: 3457
Joined: 5/9/2007
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bush is beyond anything I have yet to see....he strikes me as fiscally foolish, wreckless and inept....

(in reply to Sanity)

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RE: Lowering Taxes.... beware - 10/29/2008 1:33:26 PM

awmslave

Posts: 599
Joined: 3/31/2006
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quote:

bush is beyond anything I have yet to see....he strikes me as fiscally foolish, wreckless and inept....

If you ask the question: Who benefits (?) things may look different. Bush has been irresponsible, I would even say criminal (as common law is concerned) but not "foolish". Bush inherited from Clinton-Greenspan bubble economy that was seemingly good but under the surface rotten, corrupt, debt driven and did not produce real wealth. So, he sat down with Greenspan and perfected real estate bubble and huge extra debt driven bubble in general by lowering interest rates (lending rules had been change already in 1990-es. He was a little short with time: financial pyramid scheme started collapsing before his term.
We will see what Obama (it looks he will be the next victim in even worse situation) will do if anything useful.

(in reply to SilverMark)

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RE: Lowering Taxes.... beware - 10/29/2008 4:24:34 PM

thornhappy

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You forgot the excess leverage used by the investments banks.

(in reply to awmslave)

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RE: Lowering Taxes.... beware - 10/29/2008 4:35:48 PM

Naga

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Joined: 10/11/2008
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quote:

ORIGINAL: rulemylife

So I guess you were also complaining as loudly when Bush and the Republican Congress proposed doing the same thing with the budget surplus inherited from Clinton.

You remember what a budget surplus is, right? I know it's easy to forget since we haven't had one in eight years.

We never had one. We did, however, have Slick Willy playing a shell game and hiding the details of the public debt while claiming a surplus. But the surplus didn't exist.

(in reply to rulemylife)

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