Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: elmatador who wrote (34437)	5/28/2003 1:47:16 PM
From: AC Flyer	Read Replies (1) of 74559

elmat: >>means money will be printed<< Well, this is mostly an issue of political philosophy. Politicians will always spend more than they have available from current receipts. To keep them in check, Milton Friedman and I agree that the best approach is to run a permanent deficit. I'm sure you know that the US is one of the least indebted of western countries with Federal debt of about 35% of GNP and a current deficit of less than 2% of GNP. The deficit is a rounding error in the Federal Budget. So, no problemo. You may have noticed our recent jump in competitiveness, due to the fall in the value of the dollar. US products just got, uhh, maybe 30% cheaper in much of the world. Good news, eh?

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