Reply #40: add to it that the "Market" recovered after 911 [View All]

by the Spring... but took a deeper dive after a series of corporate implosions (esp WorldCom)... the big wipeout was financial and it was NOT due to 911.

Add, for spice, that the increase in deficit spending is still steep when factoring out the costs of 911 AND the war in Iraq. Why? Expansion of government (Medicare and HomeLandSecurity) and Decrease in Revenues that benefit the rich and corporations.

Oh - and for extra spice... the old concept of "targeted tax cuts" - giving corporate breaks commiserate with actions of corporations doing things for the economic good of the country (such as - keeping corporate headquarters in US as opposed to tax shelters off shore... or keeping jobs IN the country rather than outsourcing) has been thrown out the window by this administration. Best example - in the Medicare bill there was a provision that would give tax breaks to companies that maintained their health benefits (insurance) for retirees (thus keeping lighter the load on the federal Medicare system) - was CHANGED at the last minute to a tax break with NO strings attached. End result - an escalation of companies ending healthcare benefits for retirees WHILE THEY GET MORE MONEY BACK...

Just how is that sound fiscal policy?