Reply #37: Another tax cut anyone?

[Mugsy]

Good God.

Last year, I told a NeoCon friend that Interest Rates were DANGEROUSLY low. He didn't have a clue what I meant by that.

"Dangerous? How can low interest rates be dangerous?"

I hate having to explain basic economics to Right-wingers, but I explained that with interest rates so low, it becomes more difficult for the Federal Government to convince foreign governments to lend us money to finance our government programs... which we've been doing at an ever increasing rate since The Boy Genius took office (giving a few millionaires a 5% tax cut deprives the Fed of more money than giving millions of poor and middle-class a 10% cut). So the Fed must raise rates to attract foreign investors. But domestically, higher rates slow down the economy by encouraging people to save more and spend less.

And now we are seeing the cold hard devistating effects of "Bush-o-nomics" in action.

What a bunch of freaking j@ck@$$e$! :evilfrown:

(Bumped and Recommended)