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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (206)	2/18/2004 4:44:38 PM
From: yard_man	Read Replies (1) \| Respond to of 116555

that guy is half-cocked most, if not all, of the time. that bit about payroll adjustments he ripped off from CI, I think. we all know how big the national debt is and what the debt service costs are. It is NOT paid out of GDP -- it really can't even be compared to GDP -- not apples and apples comparison. Probably only the debt service should be compared to government outlays for "real" stuff ... it certainly doesn't encumber or crowd out other types of borrowing in the current environment. Never was any implicit assumption that govnment debt would be PAID -- it is always rolled over -- it's perpetual.