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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: kvkkc1 who wrote (61593)	11/7/2000 12:26:42 PM
From: willcousa	Read Replies (1) \| Respond to of 769670

It has been true for 20 or 30 years that if federal spending were simply held flat for about 5 years the budget would become balanced as a result of economic growth. This was just too much self-restraint for the dems though.

To: kvkkc1 who wrote (61593)	11/7/2000 2:19:37 PM
From: Joseph F. Hubel	Read Replies (2) \| Respond to of 769670

I'll try to answer. First of all I am self employed and don't draw a salary so I don't count here. Point two I do not view the national debt as my employer's debt I view it as partly my debt in so much as is my tax money that will be used to pay the principal and all the ongoing interest costs. That interest is just going down the drain. Without the debt we could have a much bigger tax break. You mention having a mortgage on a house. Believe me I know about mtgs. To pay off $100,000 over 30 years @6% will cost over $116,000 in int. Our current debt will cost about $5 trillion in int. over that same 30 years. How big a gap is there in our positions. I say a little sooner, you say a little later. Let's split the difference and go have Bush beer. LOL JFH