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

To: JBTFD who wrote (218744)	1/15/2002 11:00:09 AM
From: DMaA	Read Replies (1) \| Respond to of 769670

It's good to be skeptical, but it's also good to listen and learn. I love these teachable moments: In May, the Congressional Budget Office reported a 10-year budget surplus of $5.6 trillion. By the end of the year, $3.7 trillion was gone[LEAVING A 1.9 TRILLION SURPLUS]. Nearly half of that was a direct result of the tax cut. The tax cut was by far the largest factor. The rapidly disappearing surplus is a key reason long-term interest rates have barely budged. This, despite the fact that the Federal Reserve cut the short-term, federal funds rate a record 11 times last year[Someone should teach this guy that the FED has NO CONTROL AT ALL over long term rates] All together, the Federal Funds Rate dropped nearly 5 percentage points last year. Yet the 10-year Treasury rate ended the year almost exactly where it began. democrats.senate.gov This is embarassing. Probably why you won't find a transcript anywhere else.