Bush’s Never-Ending Deficit-Spending
President Bush’s economic policies have been a disaster for the country. “Federal Deficit Grows Deeper Than Expected” (Aug. 28) points out the mounting deficits resulting from his ill-advised policies. Bush inherited a nearly $300-billion surplus and in only 18 months turned it into a $165-billion deficit, an astounding negative $465-billion turn in the wrong direction. And now his smoke-and-mirror policies say his economic programs are going to produce a surplus in 2005--a projection not supported by fact.
Bush’s forecasts are wrong, as the article’s graphics clearly illustrate. Ronald Reagan cut taxes in 1981 while projecting a surplus, and massive deficits were the results--$3 trillion worth, still costing taxpayers a $200-billion yearly debt service. The country might live with short-term deficit spending to speed up the economy now, but Bush’s long-term massive deficit spending projections are bad for the country because they create uncertainty for both investors and the financial markets.
Bush has created a big financial mess for America, and I hope he plans to clean it up himself without trying to blame it on someone else.
Garth Bishop
Los Angeles
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