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

To: Kevin Rose who wrote (133914)	3/28/2001 5:24:38 PM
From: Zoltan!	Read Replies (1) \| Respond to of 769667

>>No relationship between the National Debt and interest rates? I'm not sure many economists would agree with that. Actually, they have to, because that's reality. >>No reason to pay down the debt? How about 362 billion of them? That was the interest paid on the debt in the year 2000 - 20% of the total budget. If there really is no connection between interest rates and debt, we could pay off the debt and reduce this huge tax burden on ourselves and our kids. Debt was far higher after FDR in real terms. >>The article twists the truth in a number of ways. The biggest is assuming that Rubin meant 'fiscal discipline' means 'maintaining high taxes'. That is baloney; he was referring to discipline that resulted in the reduced deficit during the Clinton presidency. The only fiscal discipline in the Clinton regime was in defeating his spending schemes. Remember, Clinton fought a balanced budget until Dick Morris told him to agree to that and welfare reform or he wouldn't be elected. Too bad Clinton vetoed the tax cut last year - another reason for the Clinton recession and the Clinton Bear market.