Clarkonomics

Business Week takes a look at General Clark's economic plan and it's a positive piece. Here are the bulletpoints to Clarkonomics: PARTIALLY ROLL BACK BUSH'S TAX CUTS. Clark would only cut the tax breaks for families making $200,000/year and up, generating $50 billion in 2004-2005, and $900 billion through 2013. Clark would use that money to strengthen homeland security, pay for a health-care initiative (to be announced later), and to reduce the now-runaway deficit. ECONOMIC STIMULUS $100 billion over the first two years, including: $40 billion to strengthen homeland security and domestic infrastructure; $40 billion to assist states with education and health care costs, which have been skyrocketing; and $20 billion in tax breaks and incentives to encourage companies to purchase new equipment, hire workers, and keep manufacturing jobs in the U.S. ATTACK THE DEFICIT. Clark would use about $500 billion for deficit reduction. FREE AND FAIR TRADE While Clark supports NAFTA and the WTO, he would insist that new agreements satisfy international environmental and labor standards, and he opposes fixed exchange rates in countries such as China -- a policy that would boost U.S. exporters. The kicker is that the Democratic party is now the party of fiscal conservatism. The GOP enjoys voodoo economics - tax cuts & spending increases.