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To: upanddown who wrote (59368)	3/10/2004 12:34:39 AM
From: QwikSand	Read Replies (2) \| Respond to of 64865

Hey, no problem with these niggling little debts! Go over and read the RWE thread's economic philosophers. They've got it figured out! See, as Reagan said, there are simple solutions to complex problems! That's why people loved that guy! He cut the ol' Gordian Knot with the sword of common sense! It's simple! See, all you do is transfer all the wealth to the higher-quality people instead of distributing it to welfare bums. The higher quality people, they KNOW what to do with the money. They invest it in entrepreneurial ventures that lift EVERYBODY's boat, and we just outgrow the stupid deficit! You've just got to make sure that the tax dollars flow to the people who will use them to build factories instead of buying drugs and feeding crack to welfare babies! Nothin' to it! What's that you say? The rightful owners of America are currently building a few of their factories in Mexico and the Philippines and their corporate headquarters in the Caymans? So what! They know what they're doing...they don't call them Captains of Industry for nothing! That's the whole thing...the ordinary people have to trust the aristocr...I mean the entrepreneurs, and everybody will get well. Just because we're not smart enough to perceive the entire progression of future events doesn't mean the Ki...I mean, the President and his corporate masters aren't! Have a little faith! Buy Spiders and Diamonds! --QS

To: upanddown who wrote (59368)	3/10/2004 8:41:12 PM
From: Peter O'Brien	Read Replies (1) \| Respond to of 64865

debt as a % of gdp is still not too bad at 65% currently. home.netcom.com The record high at the end of WWII is 120%. The trends are not encouraging though. Entitlements are the main culprit. They are actuarially unsound and will (by themselves) force the debt/gdp ratio to record levels in the next few decades. By the way, according to this data, FDR was actually the "biggest spender". The raw (unnormalized) federal debt rose over 1000% under FDR to about 0.25 Trillion (which was huge in 1945). ahherald.com Interestingly, the last president ever to pay down the debt over the course of his presidency was Calvin Coolidge. He cut the top marginal income tax rate to only 25% and ran a surplus each year of his presidency (paying off a significant chunk of the debt from WWI). Also, interestingly, the very high top marginal rates (~90%) that persisted for many years after WWII were ineffective at actually paying down the WWII debt as the raw (unnormalized) data clearly indicates.