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Politics : PRESIDENT GEORGE W. BUSH
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To: rich4eagle who wrote (129130)2/25/2001 8:56:36 PM
From: Lazarus_Long  Read Replies (1) of 769667
 
A major factor in the now-lamented long economic expansion was low interest rates. For decades the federal government was driving up rates because of its continuing need for funds to finance its own operations. It was competing with the private sector in the capital markets. Once the government determined to balance the budget, its funding needs decreased and more capital became available to private companies for investment.

The best way to get low interest rates without inflation is to balance the federal budget and collect a surplus to pay off the debt so its continuing interest costs will decrease over time. I think Bush may be correct in asking for a tax cut to avoid or end a recession. But one that has a ten year life? Not unless you see ten years of recession ahead.
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