No one seems to be writing opinion pieces quite the way I would, so I decided to do it myself.

The name? Taverns are places where one goes to discuss the interesting events and things in the world, so this is my tavern.

I will offer my views on politics, economics, and whatever else strikes my fancy.
I will occasionally publish the entire article from another journal for purposes of causing discussion.

 

The American economy - Bush style

Want to know why we are paying so much more for gasoline? It is a direct result of the tax cuts to the rich and the expense of the unnecessary war in Iraq which between them are drastically increasing the federal deficit.

From The Los Angeles Times by Richard C. Leone and Bernard Wasow. April 1, 2004

“Thanks to the unbalanced policies of the last few years, the U.S. will be pumping out trillions of dollars of new federal debt. Financial markets — and oil producers — are afraid that a future glut of bonds will drive down the value of these bonds and, sooner or later, drive up U.S. interest rates. The prospects of falling prices of Treasury bonds and a weak dollar have depressed European demand for U.S. Treasury bonds, so the value of the euro has further risen relative to the dollar.”

“Dollars today simply do not command the same purchasing power that they did a few years ago — a situation that will persist as long as it is painfully obvious that the administration has no plan to reduce the deficit. As the value of the dollar falls, of course, OPEC raises the dollar price of oil.”


posted by Richard at 7:38 AM