Werner Hetzner

torresD wrote:

>...
>Right now the U.S. government
>is running deficits bigger,
>
>as a share of G.D.P.,
>than those that plunged Argentina into crisis.
>
>The reason we don't face a comparable
>crisis is that markets, extrapolating from
>our responsible past, trust us to get our
>house in order.
>
>But Mr. Bush shows no inclination
>to deal with the budget deficit.
>
>On the contrary,
>his administration continues to fudge the
>numbers and push for ever more tax cuts.
>
>Eventually, markets will notice.
>
>And tarnished credibility,
>along with a much-increased debt,
>is a problem that Mr. Bush will pass
>along to other Congresses,
>other presidents and other
>generations.
>

Republicans are pretty much like Democrats. This sort of stuff is what
they do to buy votes. Ex. the new prescription drug entitlement. Votes
cost a lot. It has been going on for a long time. Krugman knows this.

"
In the 1990s the federal government created $2.8 trillion of new debt;
more than created in the nation's entire history prior to 1990 .

Fiscal Year 2000 ended with the highest dollar debt
in U.S. history - despite more claims of a 'surplus'
and, Fiscal Year 2001 debt was higher than that.
and, 2002 debt was $420 billion higher.

In the 4 years 1997-2001, before 9-11, total federal debt increased $438
billion,
a period when politicians bragged about a $557 billion surplus.
That's a $1 Trillion creditability gap .
(Some might suggest Enron and others learned reporting gimmickry from
government practices)
"
http://home.att.net/~mwhodges/debt.htm

http://1marketsquare.com/CapLP/Environment.shtml
http://1marketsquare.com/CapLP/Social%20Security.shtml
http://1marketsquare.com/CapLP/Health%20Care.shtml
http://1marketsquare.com/CapLP/Drugs.shtm
http://1marketsquare.com/CapLP/Education.shtml
http://1marketsquare.com/CapLP/Poverty.shtml
http://1marketsquare.com/CapLP/ExampleTOC.shtml
and more

Dollars in the common treasury are like fish in the common sea - anyone
who can will harvest to extinction. That is why socialism is
fundamentally corrupting and can not work.

Argentina is a good example.



>
>
>
>
>
>