President Bush issued nationwide tax rebates in 2001. Cut taxes in 2003. And now, more tax rebates in 2008 all designed to keep the economy on track and moving forward. So ... how is it that the United States is on the verge of its second recession in seven years?
In all likelihood, this latest round of rebates will artificially halt the recession much as they did in 2001 and prevent the economy from making a real market correction.Seems to me all President Bush has done is accelerate the recession cycle and create an economy dependent on tax cuts and excessive consumer spending.
Jed B. Clarke