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To: Road Walker who wrote (168158)7/14/2002 2:26:45 AM
From: Amy J  Read Replies (1) | Respond to of 186894
 
Hi John, RE: "Greenspan talking about the danger of too large a budget surplus? That you didn't want the government deciding where to invent excess dollars, that that would be manipulation of excess dollars?"

My thought at the time he said that was, how can someone in his position with his kind of visibility, who has exhibited so much demonstrated intelligence, say something like that and not take advantage of creating even more of a surplus in order to reduce the debt. I wish he had influenced for more fiscal responsibility.

I think the out-of-control spending is potentially serious enough that it could eventually spawn inflation as a means to reduce the debt and to meet the 360B interest obligation in a more easy way. I hope both parties work together to start cutting expenses soon.

This level of debt isn't good.

RE: real estate

SJMN reports Calif housing increased 25% statewide YOY. But that's statewide, not Bay Area.

Sales of homes were good in May locally in the Bay Area and the past one year was good for median homes, but I'm hearing over the past few weeks home prices that exceed the median are now decreasing again according to a friend who is selling a house.

Regards,
Amy J



To: Road Walker who wrote (168158)7/14/2002 10:21:46 AM
From: Dave  Respond to of 186894
 
John,

I think AG said something like if one has a surplus either use it to pay down our debt or a tax cut.

Unfortunately, our members of Congress, instead, chose to spend the majority of the surplus and give a small tax cut.

The problem with the term "surplus" is that all the tax revenue is comingled. Therefore, our FICA (Social Security) Tax was used to pay the current recipients of SS and then it was spent.

A true budget surplus was a myth.


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