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

To: Snowshoe who wrote (15272)	2/20/2002 4:57:16 PM
From: Raymond Duray	Read Replies (1) \| Respond to of 74559

Snowshoe, Re: 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. It is true, and it is happening now. The OMB's budget has a line item for something like $150 B in deficit spending for FY 2003 whitehouse.gov and on another line they are requiring an increase in the National debt ceiling of about $600 Billion. This is a fiction that has a long lineage, but it is indicative of the real state of things to come. Re: . 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. I'm shocked, shocked I tell you. There's deception going on here? Why, who woulda believed it. -Ray

To: Snowshoe who wrote (15272)	2/20/2002 5:31:09 PM
From: benwood	Read Replies (1) \| Respond to of 74559

And don't forget that there was only 1 year of an actual surplus (2000 I think it was). The other years were in the black thanks to the SS trust fund being spent instead, in exchange for an "IOU" which, when it's needed for paying out benefits to retiring baby boomers, will be paid back, right? Somebody will pay it back when needed, right, in, what, about 10 years. Now who's gonna pay back that $1.05 trillion dollars? Hmmm... how will it get paid back? Or, will it? Of course our beloved congressmen won't give a rip since they don't pay into SS and their own federal plan provides them with a far greater benefit. At least we purportedly elected those which are screwing us.