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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: BGR who wrote (77381)	3/9/2000 1:12:00 PM
From: Mike M2	Read Replies (1) \| Respond to of 132070

BGR, ho ho ho Karl Marx said " gov't bonds are not assets at all they are claims on the annual product of the nation" they transfer wealth from taxpayers to bondholders. Redistribution of wealth does not produce it. Yes there are many gov't expenditures that produce wealth- Hoover Dam but entitlements do not. mike

To: BGR who wrote (77381)	3/9/2000 1:25:00 PM
From: Earlie	Respond to of 132070

BGR: Of course they are, and that fact has been discussed at great length here on many occasions, but back to the main point (no more red herrings (g)). With total U.S. government debt continuing to mount monthly, whence cometh any form of real "surplus" (aside from fancy accounting) with which to tackle the reduction of that multi-trillion dollar debt? And of course as interest rates rise, and given that interest payments on the national debt are among the largest of the government's expense items, what is likely to happen to the speed with which government debt rises on a going-forward basis? Not trying to have the last word on this topic, nor attempting to back you into a corner. Perhaps leaving it until year end for further discussion is a good idea. Best, Earlie