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Politics : Formerly About Applied Materials

AMAT 226.05

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Nov 14 9:30 AM EST

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To: michael97123 who wrote (43030)	3/4/2001 7:07:58 PM
From: Jacob Snyder	Read Replies (2) of 70976

re: "Jacob is against unbalanced budgets at all times" No, not at all. I think we should run deficits during wars and depressions, and at other times run surplusses. And that is what we did for most of our history. It is only beginning in the late 1960s , that we ran chronic deficits, in good times and bad, and ran up a huge debt. I think the Federal Government should be run the way Alaska is. We had a huge windfall from the oil boom. We could have done what Texas and Saudi Arabia and everyone else has done with their oil money: spend it as soon as we got it. Instead, a large part of the money went into a Permanent Fund, which was invested in a diversified portfolio (including stocks). As a result, every Alaskan gets a large Dividend check every year. Since the capital isn't touched, and the Fund is inflation-proofed, and the Fund can't be touched without voter approval, we should continue to get those checks indefinitely. In contrast, the Federal Government seems content to have the taxpayers pay interest on the Federal debt indefinitely.

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