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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Raymond Duray who wrote (15269)2/21/2002 10:17:11 AM
From: AC Flyer  Read Replies (6) of 74559
 
Hi Ray:

Once again, I find myself on the opposite side of the fence, but as always, willing to be convinced. I see (1) a projected federal budget deficit for the next couple of years that is so small it is a rounding error on the federal budget; (2) a national debt that is one of the smallest as a perecentage of GDP in the Western world; (3) demand currently exceeds supply for T-bonds & bills.

>>not one person in a hundred understands the pernicious enslavement of the general populace that the Bushistas sinisterly are imposing on us with their immediate return to deficit spending and debt-building<<

This I just don't get. Maybe I'm too dumb, but I'd appreciate it if someone could explain it. My point of view is that the Federal government should ALWAYS run a deficit. That is the only pressure for fiscal restraint that Congress has. Handing a surplus to Congress is like handing a $20 bill to a drunk - they will immediately find ways to spend the money and before long we'll find ourselves in the same boat as most European countries - with big-spending, ever-expanding paternalistic big government. Hell, too many folks in Congress now believe that the government has money. The government has NO MONEY - all they have is what they remove from the pockets of the working people of this country, and the less they have of it the better, imho.
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