President Bush argues that his proposed $1.6 trillion tax cut will be
good for the economy and good for American families, as it will return current surpluses
in the federal budget back to the American people rather than the government hoarding
them. Is he right?
One alternative to a tax cut is for the federal government to use this
money to continue to pay down the accumulated federal debt and reduce federal interest
payments. That would almost surely create a healthier economy in the long run.
A second alternative is for the government to spend the money in
another way. There are obviously major public needs in this country. Most pressing is the