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

To: Steve Lokness who wrote (9305)	7/15/2004 1:15:26 PM
From: GraceZ	Read Replies (2) \| Respond to of 116555

I think the interest was definitely the culprit, but also there are clearly some expenditures which are "off budget". Notice that even as the debt has grown in the last four years, debt service is shrinking in both nominal and percentage terms (it's a smaller portion of the budget) because of the low interest rates. As to where have all the conservatives gone....once you start down the path of socialism it's impossible to turn back until the state goes bust.