Reply #28: yes, but

[CMT]

this deficit is a real time bomb. Read an arguement today which makes the case that it is much like the 60's when LBJ tried to provide Great Society programs along with Vietnam spending and it ran the deficit higher and led to hikes in interest rates and later the inflation of the 70's. Bush not wanting to touch his tax cuts and wanting additional spendig in Iraq at $87 billion per year is almost identical to the 1960's scenerio.

Besides, the minimal tax cut the working man got from the Bush tax cuts are being whiped away from increased fees, taxes, and spending cuts at the state level. Soon on the national level domestic programs will also be affected.