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

To: Sedohr Nod who wrote (755308)	11/29/2006 4:18:39 PM
From: pompsander	Respond to of 769670

I tend to agree with you, Don. The argument about having a surplus (like you win something for hitting the mark) is hardly relevant.....the trends are what worry me. We continue to add debt. Troubling... Future interest obligations are payable CURRENTLY at favorable rates. But much of that debt will be rolled over at maybe not so favorable rates. And right now government revenues are pretty good! What happens when the revenues drop due to economic weakness or other factors? The debt burden remains but the ability to pay it down decreases. Are we healthier then? No. So it is the current trend that worries me now, not the past..however you define them. Thus, my harping on spending reform. You can't cut taxes (revenue) and pay your current bills on the China credit card purely on the theory that someday economic growth will make up the shortage. It won't if the debt grows to unmanagable levels. That danger exists.