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Politics : American Presidential Politics and foreign affairs
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To: TimF who wrote (25888)2/8/2008 5:10:17 PM
From: DuckTapeSunroof  Read Replies (1) of 71588
 
Re: "It excludes "trust fund" money, or any kind of debt where the government itself is both the debt owner."

Thanks! (But that doesn't exactly address the question... which was about FOREIGN SOVEREIGN holdings, not about the amount that the US gov. holds of it's own debt....)

Re: "Nominal dollar debt figures mean very little."

No sense to continue trying to argue a point that I NEVER disagreed with. :-)

Re: "But some periods of time have more expensive bad news than other periods."

Certainly true.

But I'd contend that nothing yet presented has established outlier 'bad externalities' in this recent period, at least, not greater then the NORM.

Re: [ALL of the beneficial effects upon the growth rate of the economy that would be occasioned by Bush's proposed tax changes... would have been OVERCOME and UNDONE by the greater HARMFUL EFFECTS of the budget deficits he was projecting to run, and the INCREASED INTEREST EXPENSES of servicing the surging national debt....] "I disagree with that assertion."

You can disagree all that you want to.

It still REMAINS a fact that ALL THREE ECONOMIC TEAMS came to *exactly this conclusion*: The White House's own Office of Management and the Budget, the external econometric firm hired by the WH to specifically run a 'Laffer Curve friendly' budget analysis, and the non-partisan Congressional Budget Office.

That IS WHAT all three teams projected would happen. (So, it would be very difficult for anyone to claim that they were not warned about what would happen!)

And, it also remains a fact that interest on the nation debt is running around $200 Billion this fiscal year... and is one of the fastest-climbing line items in the entire federal budget.
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