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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Snowshoe who wrote (15272)2/20/2002 4:57:16 PM
From: Raymond Duray  Read Replies (1) of 74559
 
Snowshoe,

Re: If true, then we'll get hit by a double whammy when the capital gains turn into losses at the same time Bush is cutting taxes and raising spending.

It is true, and it is happening now. The OMB's budget has a line item for something like $150 B in deficit spending for FY 2003

whitehouse.gov

and on another line they are requiring an increase in the National debt ceiling of about $600 Billion. This is a fiction that has a long lineage, but it is indicative of the real state of things to come.

Re: . In other words, the projections were based on the same type of phony accounting that corporations have been using to pump up their stock prices.

I'm shocked, shocked I tell you. There's deception going on here? Why, who woulda believed it.

-Ray
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