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To: westpacific who wrote (2321)	3/10/2001 2:34:26 PM
From: westpacific	Read Replies (1) \| Respond to of 74559

Strapped States Try to Recover From Spending By PAM BELLUCK The New York Times As many as 23 states may cut budgets or reach into rainy day funds for the first time in years, as officials try to rein in financially costly programs. Personal debt not the only problem, even the tiny USVI has $1B in debt and nearly bankrupt. dailynews.yahoo.com West

To: westpacific who wrote (2321)	3/11/2001 12:19:49 AM
From: SouthFloridaGuy	Read Replies (1) \| Respond to of 74559

West, don't count out the American corporate sector which has taken on an unbelievable amount of debt as well. This is where the real problem will lie as balance sheet problems come to light in a less than favorable operating environment.

To: westpacific who wrote (2321)	3/12/2001 2:13:21 PM
From: Valley Girl	Respond to of 74559

The US tax system is a pretty big disincentive for savings. We were mugged taxwise last year due to all the capital gains. Bill Clinton's soak-the-rich policies ensure that anyone who does save has a large measure of the money taken from them to fund more consumption by the rest. Those who consume and never save will eventually become wards of the state and enjoy a free ride from those who did save. Same principle's at work everywhere in the US, for example college tuition. The message is clear: "Saving is for losers."