Chicken and Pork on Capitol Hill
Alan Greenspan testified on Capitol Hill Thursday and if you are a taxpayer, what he said was very good news. Greenspan began by scolding Congress on their
spending spree of the last session of 2000, passing numerous pork barrel measures designed to spend away the much talked-about budget surplus. Greenspan
warned the lawmakers to stop spending the surplus away, because in reality, the surplus is merely a mathematical formula based upon a perceived continuation of the
economic growth experienced since the dawn of the New Economy.
In other words, Congress should not count their chickens before they’re hatched!
Greenspan instead favors tax cuts, which he feels will spur on the economy and head off the threat of recession. This of course is right in line with the economic
policy of the Bush administration. After Greenspan’s comments, it will be very difficult for opposing views to mount a serious challenge to a sweeping tax cut bill.
Greenspan further added that, in his opinion, many technological innovations remain ahead, which he feels will trigger vast economic growth in the future, again
requiring further lowering of tax rates.
Greenspan made it clear that tax cuts now would help smooth the road to long term fiscal balance and that the government’s tax receipts should only be enough to run
the government and work towards eliminating the national debt.
Although he made no reference to further interest rate cuts in his comments, most analysts are expecting anywhere from a 25 to 50 basis point reduction when the Fed
meets next week.
This week on Emerging Company Report;
Praxis Pharmaceuticals, Inc. (OTC-BB: PRXX) describes itself as a pre-clinical stage medical research and development company, focusing on the discovery,
development, and commercialization of carbohydrate based drugs for the treatment of inflammatory diseases. “The company has recently entered into a joint venture
with the Rothschild Investment Banking Group,” said CEO David Stadnyk, “which we see as a tremendous testimonial to our company’s direction and future”.
Sam J. Higgins, CEO of Spectrum Technology Corporation (OTC-SPUM) announced the company had acquired the exclusive rights to a breakthrough oil and gas
finding system .which the company says has been demonstrated to locate hydrocarbons from surface vehicles and aircraft. “This device is also effective over land or
sea”, said Higgins.
Free information packages from the featured companies can be requested by sending an email to info@emergingcompany.com.
Viewers of Emerging Company Report can receive free information in the mail about featured companies by calling a toll-free phone number on their TV screen. The
weekly television program debuted in 1996 and is seen Friday evenings at 11:00 ET, 8:00 PT, Saturdays at 4:00 PM ET, 1:00 PM PT and Sunday mornings at 11:00
ET, 8:00 PT. The program is broadcast to over 30 million cable TV homes in more than 300 cities nationwide.
A complete menu of cable TV channels is available at the Emerging Company Report web site,
emergingcompany.com, where the weekly program may also be viewed "On-Demand" on any computer .
Emerging Company Report television program, Copyright 2001, all rights reserved. Emerging Company Report does not provide an analysis of companies' financial
positions and is not soliciting to purchase or sell securities of the companies, nor are we offering a recommendation of featured companies or their stocks. Information
discussed herein has been provided by the companies and should be verified independently with the companies and a securities analyst. Emerging Company Report
has been paid a cash fee of $11,500.00 by the featured companies, does not accept company stock as payment for services, does not hold any positions, options or
warrants in featured companies and the information herein is not an endorsement by the producers, publisher or parent company of Emerging Company Report. |
