Well, Bush has stated his plan for the deficit. It involves growing the economy and controlling discretionary spending by congress.
My problem with Kerry's economics is that you cannot retract from global economics by avoiding outsourcing, without cutting off the insourcing of jobs.
"Foreign firms now account for 6% of U.S. jobs vs. 3% in 1987. They also produce 20% of U.S. exports." (IBD 10/20/04)
Further, his job creation initiative falls short, just by doing the math. For every worker hired at $40,000, a firm would save $3,060 in taxes, and only for the years of 2005 and 2006 under Kerry's "New Jobs Tax Credit" plan. (Incidentally, this plan is almost identical to one from the Carter Administration that also failed).
Additionally, increasing the taxes on small businesses (or returning them to their old rates) when 70-80% of new jobs are coming from small businesses, is harmful to job growth.
Lastly, if you listen to what Kerry says, he is unhappy with our slow growth steady economy and wants a faster growing economy. This is dangerous and reckless economics when the Fed. Interest Rate is so low.
Fast paced economic growth is likely to yield a fast inflation. If inflation rises significantly faster then the the Fed. Interest Rate, you run the risk of panicking the market or creating an over-valued market which will later crash. The result is a recession. Worse yet, if the Interest Rate hasn't increased enough during that time, the recession can become a depression, as the interest rate is the easiest and quickest way to protect against or dimish a recession (Props to my Man: Mr. Greenspan, for his quick witted 2000 actions, puttin' a cap in that recessions a$$).
Also, if the Interest Rate increases too fast, consumers will cut personal spending and investment levels will drop. The result is a crashing market and recession (possible depression). This can get even worse by a diminished job market due to reduction of investments.
On the topic of insourcing/sourcing jobs, consider the value of making the U.S. tax code simpler and more attractive to foreign investment instead of Kerry's further complication of the tax code.
"To make the tax code more complicated rather than less complicated is probably not good policy...More and more countries around the world are moving to more transparent and less complicated tax systems." Matthew Slaughter of the Tuck School of Business at Dartmouth, sho further went on to point out that the U.S. should focus more on insourcing by foreign firms, which pay U.S. workers 31% more on average than domestic businesses.
I do agree however, that the deficit and debt are big problems for both candidates. Neither has a legitimate plan to correct the problem. More over, Kerry would be just as spendy, if not more so, as Bush, given his litany of plans.
You can't be serious ??!
