[FoRK] The Economist on Deficits

Lorin Rivers lrivers at mac.com
Tue Feb 10 09:40:34 PST 2004

Thanks to Kuro5hin...

One juicy bit:
Mr Bush, for his part, has an election to fight—and fiscal austerity 
wins few votes. On the contrary, he will claim that his tax cuts have 
delivered growth and jobs. They have certainly delivered some of the 
first, but not much of the second. The economy needs to create more 
than 140,000 jobs per month just to keep pace with the growth of the 
labour force. Last month, firms added 112,000 workers to the payrolls; 
in December, they added just 16,000. This is a poor return on tax cuts 
that cost the Treasury $195 billion in the 2003 fiscal year. For that 
money, Mr Bush could have hired 2.5m people to dig holes and another 
2.5m to fill them, paying them all America’s average annual wage.
Lorin Rivers
Marketing Professional
<mailto:lrivers at mac.com>
512/203.3198 (m) 408/580.8588 (f)

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