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To: Mohan Marette who wrote (68273)9/29/1998 9:01:00 PM
From: Lee  Read Replies (2) | Respond to of 176388
 
Hi Mohan,..Re:Don't you think this is extremely good news not only for the country in general and the market in particular?

It is excellent news and has contributed to our low long rates and strong dollar. It is important to remember though how this happened.

From the article, The black ink has been brought about by deficit-reduction plans passed under Republican former President George Bush in 1990 and under Clinton in 1993 as well as by the remarkable U.S. economic expansion that has lasted more than seven years. I think this translates to Greenspan and Rubin.

Also, Contributing factors range from the demise of the Soviet Union, which allowed Washington to trim military spending, to Wall Street's bull market, which has swelled capital gains tax revenues, and the Federal Reserve's monetary policy, which has helped sustain strong U.S. growth and general tax revenues.

Thanks for the good news article. Now if we can just keep them from spending it! <VBG>