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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: oldirtybastard who wrote (63900)2/1/2001 3:19:35 PM
From: Mark Adams  Read Replies (2) of 436258
 
From a WSJ article, US Democrats Warn Bush Tax Cuts Could Produce Deficits. Having trouble finding a clean link.

CBO also said:

- Even if the surplus projections are accurate, the government still faces a major budget crisis shortly after the next decade, when retiring baby boomers put huge strains on Social Security and Medicare.

- A recession this year similar to the 1991-1992 slowdown only would reduce the projected $5.6 trillion surplus by just more than $100 billion.

- If the entire surplus is used to reduce the $3.37 trillion publicly held national debt, all of it that the government could repurchase would be eliminated by 2006. Some of the debt cannot be easily redeemed because it is in long-term notes. If only the Social Security surplus is used for debt reduction, all the debt that the government can buy will be erased by 2011.
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