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Pastimes : The Justa and Lars Honors Bob Brinker Investment Club Thread
VTI 342.05+0.3%Jan 15 4:00 PM EST
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To: Boca_PETE who wrote (3288)12/26/2006 8:27:39 PM
From: Investor2  Read Replies (1) of 10065
 
Pete, I ran across this quote in another thread. It almost sounds like something one of those slightly paranoid doom-and-gloom permabears would say.

"Despite improvement in both the fiscal year 2006 reported net operating cost and the cash-based budget deficit, the U.S. government’s total reported liabilities, net social insurance commitments, and other fiscal exposures continue to grow and now total approximately $50 trillion, representing approximately four times the Nation’s total output (GDP) in fiscal year 2006, up from about $20 trillion, or two times GDP in fiscal year 2000. As this long-term fiscal imbalance continues to grow, the retirement of the 'baby boom' generation is closer to becoming a reality with the first wave of boomers eligible for early retirement under Social Security in 2008. Given these and other factors, it seems clear that the nation’s current fiscal path is unsustainable and that tough choices by the President and the Congress are necessary in order to address the nation’s large and growing long-term fiscal imbalance.

Another one of those doom-and-gloomers? NOT!!! Try the Secretary of the Treasury, in coordination with the Director of the Office of Management and Budget (OMB)!

fms.treas.gov

Maybe this really is a secular bear market.

Best wishes,

I2
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