Originally posted by JaTo:
Is someone forgetting that cuts in taxes free up money for investment and expenditures? Don't forget that the State and Local government deficits are more a product of years of mismanagement and overspending by your locally-elected officials, not what the Federal government has done, though there are some rather extreme exceptions to that...
No. I'm not forgetting that the returned monies may be spent or invested. In the current climate though, maybe folks are putting it in the bank in case they lose their job. When that happens, the money isn't stimulating the economy and it isn't being put to use by the Govt.
Regarding the deficits, I was referring to the Federal deficit.
Bless our servicemen & women overseas.
L.Cpl Ian Malone, 1st Battalion Irish Guards, R.I.P.
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