New US Economy Policy Message Board

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Strategies & Market Trends : New US Economy Policy

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To: Arthur Tang who wrote (10)	2/25/1997 5:30:00 PM
From: Arthur Tang	of 435

The new economy and the Federal Deficit Recently, congress talked about laws to balanced the budget. On the surface it sounded like congress is going to do some thing important. They were humbled by the IRS collecting 2 months in a row; income tax revenue surplus. Deficit for 1997 is going to be nil, if Clinton does not spend any more than his budget. The reason is record number of new tax payers, up and beyond 135 million tax payers from the past of 107 million payers. Senior citizens are eating good food and plenty of it. Medicare last year has a surplus of 10 billion dollars. Instead of more elderlies sick, they are healthy and ready to work. If they work, they will pay into the social security system, instead of getting paid. Interest rates on Treasury instruments are being forced down by excess liquidity from corporate profits, bidding for safe investment. Looking at the Wall street activity, we will be expecting some pull back because all those rich people has to convert some assets to get ready to pay some taxes on their profits. Then after the dust settles, Wall street will move prices up again in May. It happens each and every year. New economy, this is America at it's best.

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