From: tk@pssparc2.mitek.com (Tom Kimball)
Subject: Re: Supply Side Economic Policy (was Re: David Stockman )
Organization: OpenConnect Systems, Dallas, TX
Distribution: na
Lines: 36

In article <C5217t.J5B@newsserver.technet.sg> ipser@solomon.technet.sg (Ed Ipser) writes:
>details that you are seeking, is that the Grahm-Rudman budget controls
>were working.  In fact, they were working so well that unless the feds
>did something, they were going to have to start cutting pork. So Bush
>and the Democrats got together in a Budget Summit and replaced
>Grahm-Rudman with the now historic Grand Compromise in which Bush

Yea, it turned out that Gramm-Rudman was a sham to fool the voters
into accepting the borrow-and-spend policies of the last 12 years.



>As it turned out, the taxes killed the Reagan expansion and the caps
					^^^^^^^^^^^^^^^^
Anyone can expand the economy by chargeing $3 trillion on their credit
cards.   Big deal.  Deficit spending only expands the economy in the short
term.  In the long term it shrinks the economy for numerous reasons. I would 
have MUCH preferred that the taxpayers had that $3 trillion instead.


>The result is that Clinton now HOPES to reduce the deficit to a level 
>ABOVE where it was when Reagan left office.
>
>Chew on that awhile.


If Reagan had kept his campaign PROMISE to balance the budget by 1983,
there would have been no need for Bush or Clinton to raise taxes.  And
all Reagan had to do was balance that puny Carter deficit.

Chew on that awhile.

-- 
Tom Kimball 	OpenConnect Systems	
          	2711 LBJ Freeway, Suite 800
tk@oc.com      	Dallas, TX  75006	
