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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club
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To: marc ultra who wrote (11438)1/26/2000 11:07:00 AM
From: Wally Mastroly  Read Replies (1) of 15132
 
marc,

I agree with I2. I think the following is the most accurate statement in the CBO prediction:

"..Long-term budget projections have proven notoriously volatile and unreliable..."

Perhaps they should spend more time on shorter term forecasts - they can't even come close on those <g>.

Headlines like that only send the administration and Congress (including the GOP) racing, stumbling, and tripping over each other to both take credit for the 'surpluses' & dreaming up plans to spend them before they even materialize.............

On a more constructive note, it does appear that the current budget will show a real surplus of some amount (not counting the excess Social Security payments).

I vote that the entire current real surplus be applied toward debt reduction. If we can't pay down some of it now, in these times of plenty, when will we? - certainly not during the next recession. Leave the entire Social Security surplus alone. That money should NEVER have been mixed with the general budget funds in the first place.

O.K. - the politicians will not be able to restrain themselves. So I'll concede some of the surplus to a tax cut (for the lower income sector - who will spend it), some to improve the Medicare budget problems, but the majority of it toward debt reduction.

-

End of speech <g>.

-

P.S. - 10:33 SNOW STORM IN EAST TO DELAY RELEASE OF EMPLOYMENT COST INDEX TO FRI. FROM THURS.

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