Now don't take my word for it -- I'm a Democrat.
Ask the Republican investment bankers on Wall Street what they think the chances of this recovery being permanent are. You see, if they're not too embarrassed to tell you the truth, they'll say that they're appalled and frightened by the President's deficit. Ask them what they think of our economy, now that it's been driven by the distorted value of the dollar back to its colonial condition. Now we're exporting agricultural products and importing manufactured ones. Ask those Republican investment bankers what they expect the rate of interest to be a year from now. And ask them -- if they dare tell you the truth -- you'll learn from them, what they predict for the inflation rate a year from now, because of the deficit.
Now, how important is this question of the deficit.
Think about it practically: What chance would the Republican candidate have had in 1980 if he had told the American people that he intended to pay for his so-called economic recovery with bankruptcies, unemployment, more homeless, more hungry, and the largest government debt known to humankind? If he had told the voters in 1980 that truth, would American voters have signed the loan certificate for him on Election Day? Of course not! That was an election won under false pretenses. It was won with smoke and mirrors and illusions. And that's the kind of recovery we have now as well.
But what about foreign policy? They said that they would make us and the whole world safer. They say they have. By creating the largest defense budget in history, one that even they now admit is excessive -- by escalating to a frenzy the nuclear arms race; by incendiary rhetoric; by refusing to discuss peace with our enemies; by the loss of 279 young Americans in Lebanon in pursuit of a plan and a policy that no one can find or describe.
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