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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Raymond Duray who wrote (15269)	2/20/2002 4:52:03 PM
From: Snowshoe	Read Replies (2) \| Respond to of 74559

not one person in a hundred understands the pernicious enslavement of the general populace that the Bushistas sinisterly are imposing on us with their immediate return to deficit spending and debt-building. I share your concern about the debt, but I am not as quick to blame it all on Bush. A week ago Barron's had an article suggesting that the budget "surplus" of the last few years was an illusion caused by excess capital gains tax receipts during the bull market. In other words, the projections were based on the same type of phony accounting that corporations have been using to pump up their stock prices. If true, then we'll get hit by a double whammy when the capital gains turn into losses at the same time Bush is cutting taxes and raising spending.

To: Raymond Duray who wrote (15269)	2/21/2002 10:17:11 AM
From: AC Flyer	Read Replies (6) \| Respond to of 74559

Hi Ray: Once again, I find myself on the opposite side of the fence, but as always, willing to be convinced. I see (1) a projected federal budget deficit for the next couple of years that is so small it is a rounding error on the federal budget; (2) a national debt that is one of the smallest as a perecentage of GDP in the Western world; (3) demand currently exceeds supply for T-bonds & bills. >>not one person in a hundred understands the pernicious enslavement of the general populace that the Bushistas sinisterly are imposing on us with their immediate return to deficit spending and debt-building<< This I just don't get. Maybe I'm too dumb, but I'd appreciate it if someone could explain it. My point of view is that the Federal government should ALWAYS run a deficit. That is the only pressure for fiscal restraint that Congress has. Handing a surplus to Congress is like handing a $20 bill to a drunk - they will immediately find ways to spend the money and before long we'll find ourselves in the same boat as most European countries - with big-spending, ever-expanding paternalistic big government. Hell, too many folks in Congress now believe that the government has money. The government has NO MONEY - all they have is what they remove from the pockets of the working people of this country, and the less they have of it the better, imho.