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Originally Posted by ecchi
In the short term it HELPS imports, which is why he did it. But in the long term it leads to galloping inflation and (eventually) a recession or even a depression.
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That's why I keep saying that we will have a difficult time around 2008 to 2010. He planned this when he took office and immediately removed pay as you go government. The huge deficit always leads to a weak currency. No debating that. Other factors may have some effects as well but the deficit is the biggest factor.
I'll say it again.
In 2008 the republicans don't want to win the Presidency because the next President doesn't have a chance of fixing the mess. The plan is to fuck things up as much as possible, blame the next President for it and then run brother Bush. That's when the Tom Delay's and Daddy's CIA friends will remove the power of the supreme court and rewrite the constitution.
2000, 7% of all tax dollar went to pay interest on loans taken when Dubya's daddy was in the administration. Today it's 15%. By the time someone gets control over it again it may be 20% to 25%.
Also our debt is currently about 30% of GDP. That will be 50% by the time it's curbed.
We're fucked but as long as there's hate the admin stays in power.