The Justa & Lars Honors Bob Brinker Investment Club Message Board

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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: Investor2 who wrote (3529)	2/28/1999 9:10:00 PM
From: Boca_PETE	Read Replies (3) of 15132

I2: re:< What happened to our great big "budget surplus?" > According to this week's Barrons and Senator Hollings, there never was a "budget surplus" - it's our social security taxes collected in excess of social security benefits the politicians want to spend. Somehow I get the feeling that all of the hard earned progress on holding the line on government spending and halting the growth in the Gross Public Debt is about to be unwound. Add more concern about the cooling of the administration's attitude toward Alan Greenspan due to his recent objection to proposals to have THE GOVERNMENT invest excess social security tax collections in the stock market. I believe it will be VERY important to monitor developments on the above two issues VERY closely starting NOW. If investors start en-mass to sense a breakdown of Federal government fiscal discipline, interest rates may back up much further than expected. It would be a stupid thing for the politicians to do leading up to a presidential election, but politicians can act stupid as we have observed over and over again in recent times. P

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