THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Monday, August 5, 1996 TAG: 9608020005
SECTION: FRONT PAGE: A6 EDITION: FINAL
TYPE: Letter
LENGTH: 26 lines
The Republican Party is now seduced by the siren song of supply-side economics. It has succumbed to the ``new math'' of addition by subtraction. Thus we are assured that huge tax slashes will not deny the federal government critically needed revenues but will actually cause a Niagara of money to flow into the Treasury.
Have Jack Kemp and his cohorts ever considered that this notion might fail and precipitate a big increase in the national debt and annual deficits? These are some ``riverboat gambles'' that no society can take. Certainly not a failure of revenues that would cause economic chaos and very possibly social upheaval.
The Concord Coalition, a moderate group, is aghast that both political parties are trying to buy votes with tax reductions in the face of crippling deficits.
Will we be forced to look to a big-eared Texan with delusional tendencies and an ego the size of his state to save us? Heaven forfend!
JEROME P. CARR II
Portsmouth, July 24, 1996 by CNB