One word makes big difference
Written by Penny Fattig Friday, 15 April 2011 13:59
In my last letter I stated that according to Mr Boroff,”it is dangerous to listen to ‘only’ one person or group’s ideas.” I did not say that it is dangerous to listen to one person or group’s ideas. What a difference one word can make in tne usage of propaganda. “We need to get informed on both sides of the issues,” he also said.
“Unpaid for tax cuts” means that we have to borrow money to pay our bills because our revenue coming in was reduced because of tax cuts. That doesn’t seem so funny to me. Well, I guess it does a little.
It is correct that Reagan reduced taxes across the board. However, his administration raised Social Security (FICA) taxes. This was not a bad thing because it created a trust fund to pay for the Baby Boomers’ retirement. Reagan then, as every president since, borrowed from the Social Security Trust Fund to pay for expenses.
According to Wikipedia, the national debt was almost doubled from $5.6 trillion in 2000 to $10.3 trillion by Dec of 2008.
I don’t know where the information originated that the deficit under Bush shrank to $165 billion. That is inaccurate, according to my sources, unless they considered the money borrowd from Social Security not to be credited to the deficit because it was technically government money being spent to pay for government expenditures.
“Certain spending called ‘supplemental appropriations’ is outside the budget process but adds to the national debt. Funding for the Iraq and Afghanistan wars was accounted for this way prior to the Obama Administration,” according to Wikipedia. That is why it looked like Bush’s deficits were lower than they actually were.
I liked some of George W’s ideas but I did not agree with his fiscal policies.
Penny Fattig, Gothenburg