The infinitesimal tax cut means little compared with the HUGE increase in the cost of government. I suppose you think the democrats will pay the bill in the end?
The question is where is the money coming from? And the answer is we are spending the “good will” (used here in the accounting sense) that my parents and grandparents left us.
The dollar is over valued today because it is the most trusted currency – thus we get a lot for our dollar. But, the trust of the dollar is being pushed to the limits – one of the reasons the Euro is now here. (It took enormous pressure to get Germans to give up their mark – and that pressure came from US fiscal irresponsibility).
Now the rest of the world IS watching and understand that there is getting to be more and more risk in the dollar – and one day there will be a better exchange tool. If the Republicans keep us fiscally responsible we will have a better standard of living and a more stable world to live in.
The rate of growth that current Republican controlled government has instituted is unsustainable. If government grows at 10% per year (as it is doing and even accelerating) in a very few years we will all work for mother D.C. I don’t want my children to end up in a socialist world.