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Lawrance G Lux

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Bush Economic Policy
By Lawrance G Lux
Last edited: Wednesday, November 19, 2003
Posted: Wednesday, November 19, 2003



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Recent articles by
Lawrance G Lux

• Work Station Mechanics
• Economic Forces Preface
• SHORT ANALYSIS OF KEYNESIAN STIMULUS
• The Coming Political Campaign
• Benefits of Trade
• Tax Cuts
• The Gap Between Bush Claims and Reality
           >> View all 18
What Everyone should know.


Gross Domestic Product has recently been estimated to be growing at a rate of 2.4 percent.  This rate of growth reduces to 0.7 percent, when national defense spending is subtracted. Government spending is estimated to equal 6.2 percent of current GDP, the highest percentage of GDP since World War II. Federal revenues because of Bush Tax policies have reduced to the lowest point since 1959. This information has been subtracted from Government publications, unnoticed as they lay in the Public Record.  A cursory search of the Net will provide Anyone the ability to verify this information from multiple sources.

National defense spending competes for resources used in Private Production, does not extend or further economic Production, and provides no Consumption products utilizable to promote Production. National defense spending, in addition, does not relatively raise or promote Employment; what little impact on Job Creation which it has, devolves in withdrawing technical skills from Productive industry. The consumption of defense spending Product has the Employment impact of pulling additional skilled Labor from their normal Productive efforts. National defense spending must be considered as a Production negative only, with Labor, Resources, and huge amounts of Fuel drawn from Productive activity.

Most Economic and Government sources estimate Government deficits will exceed $6 trillion dollars over the next ten years; under the scenario of continued Government expenditures, with Federal Revenues increasing only by marginal amounts, if the current Tax Cuts of the Bush administration are continued. This is an effective doubling of the current Deficit. None believe there will be effective change in current practice.

A Gross Domestic Product growing at a rate of 0.7 percent a year cannot supply even current recapitalization needs for the Economy, so that We are actually in a net Productive loss of Economic viability.  Such a growth rate will not supply the need of Jobs for Graduates of Our Educational system at all, and will lead to an endemic, periodic increase in Unemployment; probably expressible as about 1.2 percent increase in the Unemployment rate per year.

The Bush Economic policy is an economic disaster, which will only increase in injury with prolongation.

Lawrance George Lux
Copyright.LawranceGeorgeLux2003

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Reviewed by m j hollingshead 11/21/2003
interesting article
Reviewed by Karen Dunn 11/21/2003
Agree Completely!

Thanks
Karen Dunn
Reviewed by Marjorie Coogle (Reader) 11/20/2003
Thank you for the info. I do not have your insight on this subject but I believe the Bush Economic Policy is based on the housing industry which is still growing but isn't housing always growing to some degree? What can you tell us about the military and the mix up in their pay and how and why their salaries for Iraqui service are being deferred or withheld. I understand some of the service men and women are months behind in pay and in danger of losing their homes back here in the US.
Marjorie Coogle
Reviewed by William Neven 11/19/2003
Thanks for sharing your insights, Lawrance. Though I have no where near the background you do in this field, I clearly remember the title of one of my textbooks in J-school, "How to Lie with Statistics".
Reviewed by Monette Bebow-Reinhard (Reader) 11/19/2003
Extremely important information. Thanks for sharing! I hope you don't mind, I'm sending a copy to my brother, who used to study economics and always thought Bush was on the right track. Monette
Reviewed by Claywoman 11/19/2003
LGL! You are my hero! This is great and full of information that cannot be refuted, or can it? I imagine there are those that will try. I am awed by those that understand economics, I couldn't even stay awake during that class...hehe

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