Fiscal Policy

> I have opposed almost every initiative of the Bush administration, especially tax, energy and family-planning policies and the Iraq war. Bush's fiscal policy is an exaggeration of Reaganism which was already excessive. It seems to be influenced by Grover Norquist, who wishes to bankrupt the federal government.
> Bush's first presidential campaign was full of deceptions, none more irritating to me than the proposed tax cuts (income and estate) fortified by the phrase, "it's your money". Better would have been to leave both taxes alone and hope that budget surpluses would endure for a few years to reduce the national debt, knowing that considerable borrowing was in our future as social security revenues fall below payouts. The surpluses were unlikely to endure for long, since much of it was due to capital gains incident to sale of NASDAQ stocks. One should not forget the social effect of the tax cuts to widen the wealth gap, further calcifying the plutocracy.
> The national debt has multiplied several fold, owing to Reaganism and its exaggeration by the Bush administration. Service of that debt is now a large fraction of the federal budget, so the debt is self augmenting. Our federal government is living on payday loans.
> When the predictable budget deficits occurred, the "it's your money" justification proved patently false, so Bush claimed that the tax cuts were legitimized as economic stimulus. Tax cuts to the rich are the most inefficient, even stupidest conceivable, means of stimulating the economy.
> In any case, supporting our economy with debt that will pass to the next generation and the next, is unethical. Our generation has no right to create debt to be serviced by future generations.
> One must consider whether the earth's support systems (waterways, aquifers, oceans, atmosphere, farmland, energy sources) can tolerate our economy and the rising economies in Asia, Africa and Latin America. We need to think about how to live as happily as possible with sustainable economic activity. I predict that we won't make the needed adjustments until a crisis is upon us. The needed adjustments are: more regulation, fairer distribution of employment and compensation, incentives and coercion for citizens to accomplish necessary tasks, effort to encourage family planning worldwide, a swing of the pendulum away from Reagan/Bush toward socialism. If that sounds bad, then contribute to the conversation.