What’s happening to our good friend Olympia?

In the past few years, she has evidenced a noticeable drift away from the announced goals of our Republican Party. And her present stance on President Bush’s tax cut is a clear and present indication that her concept of what’s best for the country differs drastically from that of the Republican administration.

“The deficit must be dealt with” she emphasizes, and this is no time to dramatically reduce taxes and thereby compound the problem.

Wrong! Wrong! Wrong!

Cutting marginal tax rates and eliminating the double taxation of dividends will jolt the economy into action. President Regan cut rates twice – in ’81 and ’86 – and the economy rocketed to the highest level ever!

The government was in a surplus position and the deficit was a thing of the past! Surpluses ad infinitum, crowed the economists. Unfortunately that was not so.

Elected representatives of both parties waded into all that loot and, without any kind of fiscal restraint, pork barreled it away into pet projects. Combine this with the expense of the savings and loan break up, Desert Storm and the dot-com fiasco, and we were right back in the familiar deficit position.

So, should Sen. Snowe keep a wary eye on the deficit? Sure. But don’t forget that when the mighty engine that is our economy – unshackled by tax cuts – roars into action, the deficit fades away.

With spending discipline, the whole complicated deal should be manageable.

William B. Lever, Auburn

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