New US Economy Policy Message Board

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Strategies & Market Trends : New US Economy Policy

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To: Arthur Tang who wrote (285)	6/25/2001 8:27:43 AM
From: Arthur Tang	Read Replies (1) of 435

First result now coming in on how large the deficit spending will be for George W. Bush's administration. FEDS this week will auction off $25 billion treasury bills of 3 months and 6 months. Of which, $18 billion will be rollovers of matured(expired) bills. and $8 billion will be for re-funding(printing money to cover deficit spending). $8 billion will only be the beginning of budget shortages in tax collection per week(estimate for "week", due to FEDS weekly auctions). Tax refund due to retroactive tax cut will be about $50 billion extra spending. Military extra spend is now being approved by congress for over $5 billion. Missile program will be $60 billion extra. Reduced tax collection will be $100 billion, due to tax cut effect in the coming months. capital gains tax will be nil. We are slowly looking at a $500 billion per year deficit spending, due to over spending coupled with less tax collection. Like father like son, deficit looks about the same too. Father got voted out, the son will soon be too. Some thing has to be done. Or else ten years of hard work to have budget surplus is gone to waste, simply by a stroke of the pen(signing all the spending bills).

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