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To: Boplicity who wrote (62204)	1/13/2000 11:37:00 PM
From: snowbird	Respond to of 152472

Greenspan comments - unfortunately, I did not get to hear it/read it (as of yet) this time around, however, I wonder if you are taking it in proper context.... Greenspan has always been an advocate of paying down the debt...that is always what he advises Washington to do when discussing the surplus (at least in pretty well every speech of his I've heard in the past). Don't forget that it is his oversight of the monetary policy that has contributed to the great bull market we have now enjoyed for years. I honestly think he has a bigger picture in mind ... the overall health of the country (and that will only come with paying down the debt). I think we all know how Latin America, Russia, Asia, South America, etc. have had problems with their debt and have come very close to defaulting on their debt obligations... and who is always asked "to help"... the US...the US can't continue to help prevent economic collapses (i.e., loans to Mexico)if its own balance sheet is in trouble...again, just the bigger picture as far as I am concerned. Greenspan is not known for being a "great orator"...maybe the comment on "excess" was a poor choice of words...then again, you may be making the assumption that the surplus is due solely to revenue generation in the form of taxation (could be that expenses have gone down... after all, Navy keeps complaining that they don't have enough battleships, etc.)....maybe its just me, but, look at other countries and you'll find that their FEDERAL taxes are SIGNIFICANTLY higher than yours....Greenspan doesn't dictate your federal tax rate...isn't that Congress?...he is just hoping they'll do the right thing with the extra bucks and PAY DOWN THE DEBT!! snowbird