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Politics : PRESIDENT GEORGE W. BUSH
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To: Bernard Levy who wrote (118488)12/21/2000 2:50:36 AM
From: TimbaBear  Read Replies (2) of 769670
 
Well, you may think that debt levels at 50% of GDP is low, but I don't....after all GDP is not Federal income revenues, it is what the whole nation produces in goods and services in a year.

I would feel much more comfortable with the 30% number or lower.

What was Japan's %to GDP 10 years ago when their economy was booming?
And look at it now. It doesn't take long to balloon and look at the resistance to paying it off!

Where do you find your figures for comparisons of debt to GDP?

I hope you'll note that I have not been advocating spending increases, nor have I been in favor of tax cuts....I'm in favor of proposing that my country do the same job at cutting it's debt load as I try to do personally.Thereby leaving our grandchildren a better and more economically sound country....unfortunately, the incoming administration doesn't seem to share those goals.
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