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PROSPERITY: Economic Policy | February 8, 2005


A Guest Appearance on "NewsRap with Barry Gordon"

Topics during the hour, with phone-in guests, included the following:

* Definition and size of the Gross Domestic Product, (annual) federal deficits and surpluses, and (accumulated) national debt

* Comparision of deficits during Bush I and II presidencies with surpluses during Clinton presidency

* Summary of newly proposed Bush budget for Fiscal Year 2006

* Comparison of growth in government spending as percentage of GDP under Democratic and Republican presidents

* Revenues: Tax breaks mostly for the wealthy; tax burdens shifting to the middle class and poor, hurting consumption and, thus, GDP

* Outlays (ref: Office of Management and Budget, as cited in "National Priorities" website): The big "winners" and "losers"

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