Banking service chronicle Monthly Magazine by bsc academy-subscribe published this article page no 76 we only hope someone tells that to the billion or so communist chinese who chant beat america. they dont know the cold war has ended. not that raising military spending to cold war levels is a cure all for our present international difficulties. but the america people need to be told the truth and not boondoggled on this issue and let them make those defense choices through the electoral process. and how come federal government spending is increasing at a much faster rate under this republican administration than it did under clinton clan? the conservative think tank cato institute sums it up nicely. president bush has presided over the largest overall increase in inflation-adjusted federal spending since lyndon b. johnson. even after excluding spending on defense and homeland security bush is still the biggest-spending president in 30 years. his 2006 budget doesnt cut enough spending to change his place in history either. the institute went on to say the federal budget as a share of the economy grew from 18.5 percent of gdp on clintons last day in office to 20.3 percent by the end of bushs first term. now to pseudo tax increases or whatever you want to label them. when those low rate adjustable rate mortgages begin to convert in this era of much higher interest rates personal disposable incomes as a percent of total personal incomes are going to significantly decrease and severely damage the economy. bushs tax cut is going to look like a nickel in the sunday collection plate in comparison. and he will exit office in 2009 leaving his party exposed to the electoral backlash that will ensue because of this economic debacle. and lets not forget that every time the electorate begins to focus on the real economic issues plaguing this economy an elevated terror alert is issued banking service chronicle monthly magazine buy.
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