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

To: Neeka who wrote (266289)	6/24/2002 9:35:53 AM
From: D.Austin	Respond to of 769670

Personal bankruptcy is probably nearing all time highs I suppose,more specific I should have been. I'm talking about the out of control spending by our president.. Al Gore couldn't have gotten away with the money George is throwing around..(and thank God Al's not in) On the grounds of "Fighting Terrorism",line our military along our border's.... F the non-constitutional rights of non citizens..... Get rid of the illegal immigrants,,,DEPORT THEM. Put welfare recipients back in the strawberry fields..... We are losing the battle,we are giving in to the demands and wants of a few.When only 30-35% of the people in this nation vote,we will get what we deserve. That is what I mean by our compassion for freedom has been replaced by a DVD player.Most people out there could care less. This government is doing a great job of Spending our way into bankruptcy? On Tuesday the FOMC begins their 2 day get together.I'm betting they do nothing with interest rates. Freddie Mack reports Thursday- The FED lowers rates and people begin to anticipate that the rates will be lower again soon and begin to wait to spend money anticipating lower rates which causes the economy to slow and forces the FED to lower rates which validates the decision to wait and people wait some more. and from Roger Arnold. roger@myhomelender.com The FED funds rate is at 1.75%. The prime rate is at 3.75%. 30 year fixed rate mortgages are at 40 year lows but the US economy continues to slow. The dollar is falling and money is migrating to the safety of hard assets, i.e. gold. These are also the reasons we are seeing the Federal government spending money. As the private sector slows the government spending in an attempt to stimulate private sector demand. But, the Federal government is a very inefficient way of distributing wealth and attempting to stimulate the economy. The result is often the exact opposite of the intention. As private sector money sees the government intervening in the economy it becomes worried about the resulting decrease in profits caused by the reduction in application of free market economic principles and money begins to leave the economy and migrate either to safer places or to places with less government intervention. And so the dollar falls in value in relation to the other currencies as the viability of investing in the US is reduced. Increased government spending equals decreased profits. Politicians feel it necessary to intervene although their intervention will actually cause more harm than good. Instead of increasing spending they should be decreasing taxes and letting the private sector determine how to spend their newly available tax saved dollars and as a result support the economy. D.A.