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Date Posted: 09:10:23 08/10/10 Tue
Author: Jeffman
Subject: Re: Indiana has been bucking the national trend for three months.
In reply to: Shirley 's message, "Re: Indiana has been bucking the national trend for three months." on 18:18:26 08/09/10 Mon

The govt is a service. The people hold all surplus's. If the govt needs more cash for something it should budget for it and tax for those needs. Thats what deficits are supposed to be for... This year you run a deficit but next year you tax to bring it back to zero. That way the govt is never taking money out of circulation and just sitting on it.

The amount of the tax cuts that Bush put in are peanuts compared to what we are dealing with today. So even if you had that as a rainy day fund... we would be terribly upside down in debt today. Which is a valuable lesson. The govt can always spend it faster than we can send it in.

>I strongly disagree that government shouldn't have
>surpluses. Like households, it's wise to save for a
>rainy day to pay for emergencies such as Katrina,
>Rita, BP oil spill (although BP will allegedly
>reimburse)or a serious recession.
>
>I also disagree with your contention that the tax cut
>paid for itself because of a surplus. It was taking
>money out of the surplus rainy day fund and the
>accumulation of all the unfunded Bush measures got us
>where we are today. The biggest problem is that we've
>had too many emergencies and no money to pay for them.

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