This could just have easily been put under the political area as the economics. I question and find it odd how any administration can cut taxes during heavy military spending? I'm hoping some experienced economists can join in on the discussion, or anyone else for that matter. I'm not a supporter of raising them, but it seems like cutting taxes and placing the burden on the interest rates is in effect raising taxes disguised as conservatives "small government" political favor. It in effect seem to me it will make whomever the next administration in power look worse. Kind of like shifting the responsibility elsewhere.

Also the idea a US economy in trillions of dollars in debt is somehow still prosperous is hard to figure. My two examples from my blog talk about how Bush will end up mimicing Reagan's debts.

Federal budget
Are tax cuts always good?