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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: wmwmw who wrote (27311)	6/30/1999 12:36:00 PM
From: Les H	Respond to of 50167

If I used that economists arguments, the federal government would be the most productive enterprise in the world. 1.7 trillion in revenues for 2-3 million employees. He also fails to consider the wealth effect of the refinancing of mortgages when the rates fell 1 to 1/2 percent last Fall, and of the expansion of consumer credit and negative savings. His argument about durable goods manufacturing productivity is flawed also ---- that sector is in a recovery phase and productivity is often very high early in a recovery. A lot of the wage inflation data is also skewed since farm income fell almost 14 percent and manufacuring employment was declining.