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To: Knighty Tin who wrote (214391)	1/14/2003 9:30:52 AM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 436258

chnically they are right, as the bond was eliminated and only notes of 10 years and below will be issued due to mental retardation. Why would we ever want to lock in low rates for a longer period of time? have no fear--as soon as rates go back over 10%, they'll start issuing 30yrs again like crazy.

To: Knighty Tin who wrote (214391)	1/14/2003 9:53:23 AM
From: Freedom Fighter	Read Replies (1) \| Respond to of 436258

KT, >But there are no shortages of Treasury debt looking into the future. And, somewhere along the line, the states and municipalities will have to be bailed out. Dubya can't hide from that problem even in Crawford. We're pushing a $10 billion deficit here, thanks to continued spending levels during a revenue shortfall. < Absolutely agree on the Federal government. The deficits were going to huge regardless of whether or not we got the tax cuts. The "social promises" will start kicking in in the years to come and the revenues were sure to come up short once the bubble burst. Now that the Fed is out of bullets they are getting desperate trying to prop it all up. I think this another reason why Greenspan erred. If you accommodate speculative tendencies and create a huge bubble, you create an economic environment that misleads both the private sector and the government. The last thing we need to do is mislead people in government about their true tax stream because they will always overpromise, overspend, pass the buck, cook the books, and be otherwise irresponsible when it comes to the future. God forbid we make them think things are better than they actually are. The current problems at cities and states are the result of the late 90s.