The IMF said this about AMerica's Debt situation:
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IMF research director Kenneth Rogoff, said recently, "Suppose for a moment we were talking about a developing country that had a gaping [trade] deficit year after year as far as the eye can see, a budget ink spinning from black into red, open-ended security costs and an exchange rate that has been inflated by capital inflows. With all that I think it's fair to say we'd be pretty concerned." The U.S. isn't a developing country, he said, but, nonetheless, for the global economy "the tax cut…on top of ongoing security expenditures seems awkwardly timed." (The Wall Street Journal, April 10, 2003, pg. A2)
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Bush lied about the first tax cut and he is lying about the newest tax cut. Most of the media are to stupid to point this out.
This new tax cut and the subsequent tax cuts every year ( this is seriously what Bush said he wants to do ) will effectively bankrupt our nation and force us to eliminate Social Security, medicare, medicaid, hud, and just about every other essential social program. As the debt grows, the middle class payroll taxes - you know the taxes that created the mass of the surplus - will go to pay the interest on the national debt.
The rich will walk away happy - content to know that the rabble are not feeding off of the government teet anymore.
This sounds extreme, but without a real media out there to hold these people to task, this is what will happen. In the long run, it fulfills a lot of Heritage Foundation fantasies. It will destroy the middle class and create a large serf class that will function as a cheap, exploitable working force for the rich.
Basically their goal is to turn back the clock on American society to what it was in the McKinley administration - a hundred years ago.