Republican tax-cuts are good for business
"Republican tax-cut and spend policies cause huge federal deficits. "Over the long term, deficits matter a great deal. They lower future economic growth by reducing the level of national savings that can be devoted to productive investments. They raise interest rates higher than they would be otherwise. They raise interest payments on the national debt. They reduce the fiscal flexibility to deal with unexpected developments." Given 2003 population demographics they create an insupportable tax burden for the next generation.
"A recent study by Goldman Sachs includes this forecast: if the president's proposed new tax cuts are enacted, a Medicare prescription drug benefit is approved, the A.M.T. is adjusted and appropriations grow modestly, the deficits over the next 10 years will total $4.2 trillion — even if the Social Security surplus is included. If it is not included, the deficit would be $6.7 trillion. Under these circumstances, the ratio of publicly held debt to gross domestic product climbs within 10 years to nearly 50 percent, from 33 percent just two years ago. "
Verify these facts by reading a NY Times article by former senators Bob Kerrey, Sam Nunn and Warren B. Rudman. Former cabinet secretaries Peter G. Peterson and Robert E. Rubin and former chairman of the Federal Reserve Paul A. Volcker. All are members of the Concord Coalition, a group that focuses on federal budget policy. Or check out the Congressional Budget Office, White House Office of Budget Management or Government Accounting Office Web sites.
See Concord Coalition - federal budget policy group
Congressional Budget Office
Government Accounting Office