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To: JakeStraw who wrote (17080)1/25/2001 2:24:03 PM
From: FlameMe  Respond to of 24042
 
OTOTOT: there is no federal deficit, there is a surplus. i'd say their house is in good shape considering revenues are exceeding expenditures by a huge amount.

if you're talking about the national debt, realize it is at low historical levels as a percent of gdp. the ease with which a little uptick in the economy wiped out the so called huge deficits should give you a clue as to the overstatement of the debt.

while everyone agrees no debt is a good thing, a little debt isn't necessarily bad, just ask the majority of people who borrow to buy a house or the majority of companies who borrow to expand.

that being said, we can have a tax cut and continue to pay down the debt as it comes due or even pay it off early.

good luck,
ross