[JPI] Re: deficit spending hurts the many, benefits the few

[Lynn Lamoreux]

These headings strike me as completely obvious and self evident. First, 
deficit spending obviously doesn't work in real life unless your parents pay 
the tab -- second he major proponent of this theory had alzheimers -- third 
it didn't work then, either, and we didn't have the "good years" until we 
got rid of that theory.

However, if anyone needs convincing.




Check out two "must read" articles:

"THE TAX CUT CON"
By Paul Krugman, in The New York Times Magazine, Sunday September 14, 2003, 
Section G, pages 54-62.
This is a brilliant seven part analysis of the tax-cut scam with which 
tax-cut crusaders have coned the country for their own financial
benefit during the past 25 years.

Some headers that should entice you to read the article:
* Cutting taxes doesn't benefit the middle class, it doesn't create jobs, or 
growth, and it doesn't give Americans the country they want.
* The country's looming fiscal crisis doesn't represent a defeat for the 
tax-crusaders. It's exactly what they had in mind.
* It might seem impossible to put a populist gloss on tax cuts so skewed 
toward the rich, but the Bush administration has been remarkably
successful in doing just that.
* America's best growth in a generation took place after the government did 
exactly the opposite of what the tax-cutters advocate.



"Dizzying Dive to Red Ink Posses Stark Choices for Washington: How a Huge 
Surplus Became a Vast Deficit, Fast"
By David Firestone, in THE NEW YORK TIMES, Sunday September 14, 2003, page 1 
& 18.

In January 2001 the Federal Budget had a $5.6 trillion surplus projected for 
2002-11
By January 2002 the projected surplus was down to $1.6 trillion.
By January 2003 it was down to $20 billion
By August 2003 it had a $2.3 trillion deficit projected for 2002-11.
Source:  Congressional Budget Office, Tax Policy Center



========================================================
Rodolfo Álvarez
Department of  Sociology                        (310) 825-1472
University of California
Los Angeles, California 90095-1551              alvarez at soc.ucla.edu
=========================================================
"while critics abound, the world is run by the criticized not by the 
critics"
" itadaki masu "
" nema problema, beogradjani, ja sam stranac "
"cepilla tus dientes y usa el hilo dental"

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