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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 174.76

+0.3%

Dec 23 3:59 PM EST

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To: Perry Ganz who wrote (91183)	1/4/2001 2:13:13 PM
From: Jordan Levitt	Read Replies (1) of 152472

OT <<The deficits were caused by Reagan tax cut plus a buildup in military spending the cuts kept our economy afloat The buildup of the military destroyed the USSR, we arms raced them into bankruptcy>> The defecit was not caused by tax cuts...if you look at gov't Revenues on an 18 month delay( from the date of tax reduction) every single cut led to an increase in tax revenue. Counter-intuitive as this may seem, it is so. the increase in debt (of a not unsubstantial trillion dollars) was the result of arms spending.

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