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To: flatsville who wrote (65361)	12/28/2000 9:44:03 AM
From: briskit	Read Replies (1) \| Respond to of 99985

<OT> I'll respond to you flats, because I seem to recall you as political in your posts. I'm wondering how accurate the Morris portrayal is about how this all worked, and if it provides a reliable clue to how we can expect these pressures to come to bear now. I remember the backlash in '94 being primarily about nationalizing health care. The government shutdown (creating enough free time for Monica) came later. The shutdown was precisely about the (Contract w/USA) balanced budget proposal issue (or deficit reduction, as Morris calls it). Clinton was at least publicly refusing any concession to the budget deficit reduction, or a balanced budget, well into '95. I remember him saying he would not commit to any timetable to reduce the deficit. That seems to conflict with the Morris version. But how much actual debt reduction has resulted from taxation increase, and are we to believe that is what Greenie wants here? My impression was that was primarily campaign rhetoric to deflect tax reduction.

To: flatsville who wrote (65361)	12/28/2000 10:45:44 AM
From: davidneeran	Respond to of 99985

BondTalk.com Pounding Table also. Intra-Day Market Talk: Thursday, December 28, 2000 10:15 AM ECONOMY TALK: The results of the Conference Board's December consumer confidence survey are consistent with recent spending data and are a warning to the Federal Reserve. With confidence beginning a rapid descent--the Conference Board's confidence has fallen from 142.5 in September to 128.3 in December--the Fed should worry that confidence might soon begin a more precipitous decline. Confidence levels typically cascade when the slowing economy becomes more visible and, importantly, more widely focused upon by the news media. In 1990, for example, the Conference Board's index fell 40 points in just three months. Given the rapidity at which confidence can fall, the Fed should now look to prevent it from worsening more by lowering interest rates sooner rather than later. bondtalk.com