[lbo-talk] Dems win fuels bold progressive analyses (not)

[Forstater, Mathew]

So the Democrats win both houses and this is what we get from one of the
most visible Washington 'progressive' economic voices?

 

 

The High Dollar: President Clinton's Unaffordable Tax Cut 

    By Dean Baker

 

http://www.truthout.org/docs_2006/111506P.shtml 

 

 

"Tax cuts reduce revenue, which leads to deficits and a growing debt,
which will impose a larger interest burden on the country in the future.
In the same way, an over-valued dollar leads to a trade deficit, which
results in borrowing from abroad. In future years, the country will have
to pay interest on the money it borrows from abroad today, leading to
lower living standards in the future."

 

 

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