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To: Cynic 2005 who wrote (63810)	9/23/1999 1:19:00 PM
From: pater tenebrarum	Respond to of 86076

Mohan, i agree with you on Slick's political astuteness as opposed to the Republicans' blundering on the issue. the only reservation i have w/regards to paying back the debt is that i think it is better to have a budget deficit counterbalanced by a positive private savings rate than vice versa. i also fear a bit for the liquidity of the bond market...however, as you point out, a bear market will automatically fix those things anyway, i.e. the govt. will go back into deficit and private savings will rise.