From: rkk@posms.cactus.org (Randy Kirchhof)
Newsgroups: tx.politics,alt.politics.clinton
Subject: Re: The blame game
Summary: not.
Date: 30 Aug 92 06:24:28 GMT
Distribution: usa
Organization: Department of Redundancy Dept., Austin

In article <dpEAr*vU0@caleb.UUCP> jdp@caleb.UUCP (Jim Pritchett) writes:
>In article <1992Aug25.033348.26856@pony.Ingres.COM>, QUOTE OF THE YEAR writes:
>
>> I just noticed something. This whole election the Republicans have blamed
>> Congress for the deficit and the recession, Bush was just along for the 
>> ride. During the 80's, the growth we had was caused by Reagan. Why doesn't
>> Congress get credit for that? After all, if someone is going to flack
>
>Probably because Reagan dragged the liberals (kicking and screaming) all the
>way to the tax cuts.  The tax cuts are what made the economy boom.

'scuse me for butting into a conversation to which I have not been
a part, but in my opinion this statement is dead wrong. The
economy 'boom' was due to a massive infusion of borrowed money and a
reckless deregulation of public financial industries that amounted to
handing the top 2% wealthiest people in this nation the keys to Fort
Knox. The greedheads stole us blind. We'll be paying for generations. 
The Reagan/Bush 'conservative' economics amount to the most gross abuse 
of the public trust in the history of this nation. And yes, _everyone_
is to blame. Starting at the top, through Congress, down to us. We
let it happen.

It is unbelieveable to me that _anyone_ is still spouting
Reaganomics. The numbers are in front of you in black and white. 
Sit down sometime and divide the national debt by the population of
of this country. Then compound that number by the best bond rate 
that you can find; for 25, then 50, then 100 cycles. 

Don't forget to add in the cost of keeping the store open for all
those cycles, too. You can subtract whatever you reasonably think you
can get from taxing a business superstructure that is desperately 
trying to retool and remain competetive. Go ahead and give 'em a
nice big profit that you can tax, just to make things a little less
horrifying at first.

You'll find that a major portion of your potential income 
for the rest of your _life_ going towards buying back _your_ money 
that Ronald Reagan & Co. gave to their buddies while we sat by happily 
pretending that all was well.

If you really want to have some fun, try figuring it again with
inflationary interest rates. Or troubled business. Or a rise in
joblessness and coincident costs. Dan Bricklin invented that 
spreadsheet over there for times just like this.

This country is in the position of constantly having to artifically 
hod-rot the economy to keep it from collapsing. And as the final
insult, the people who brainstormed this wonderful state of affairs
call themselves "conservatives."

We're issuing bonds _solely_ to pay interest on bonds that are coming 
due. And do it all the time. Check the little column in the back of 
the Journal; we're not retiring any debts. Heck, we're still dinking
around trying to get the deficit 'under control', adding more debt
all the time.

Prosperity indeed. Mourning in America.

r <sighs. goes back to lurking.>
-- 
   | Randy Kirchhof | Domain:    rkk@posms.cactus.org                |
   |  Austin, TX    | Bang path: ...!cs.utexas.edu!peyote!posms!rkk  |