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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: gerard mangiardi who wrote (681104)	4/29/2005 1:15:29 PM
From: Wayners	Read Replies (3) \| Respond to of 769667

Nope. That surplus never occurred.

To: gerard mangiardi who wrote (681104)	4/29/2005 1:17:48 PM
From: DuckTapeSunroof	Respond to of 769667

"Has anyone thought what will happen this cycle as interest rates go up?" Yes. If and when long rates really begin to move up it will be particularly bad for the deficit. In recent years the administration has moved new debt issuance to as short-term as they can (meaning the government is in the debt markets nearly every month), so debt is constantly having to be rolled over. It's just like a home buyer opting for the Adjustable Rate Mortgage instead of the Fixed Rate --- if rates climb they get clobbered.