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Politics : PRESIDENT GEORGE W. BUSH
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To: asenna1 who wrote (118280)12/20/2000 3:50:13 PM
From: Neocon  Read Replies (2) of 769670
 
Debt service is a normal part of the budget. If there is a surplus, paying down the debt will occur naturally. No one is eager to pay future obligations now, because it will cost more than necessary, since some people will cash out before maturity. Thus, paying off the debt means the "lock box", reserving funds. But reserving funds in substantial amounts would sharply reduce aggregate demand, and produce a recession. Therefore, it is a bad idea. Plus, a lot of private debt is likely to be paid off by decreasing pressures to roll it over.......
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