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To: Mohan Marette who wrote (84816)	12/10/1998 10:09:00 PM
From: SecularBull	Respond to of 176387

Mohan, I read another interesting editorial in the WSJ yesterday that said that lowering taxes was the only way to really keep the US out of recession. The crux of the argument is that the break-neck pace of consumer spending, which is the primary driver of the world economy, cannot be sustained much longer, regardless of interest rate policy. The US savings rate continues to drop, and US consumers, on average, are spending more money than they make. This means that they're tapping into their wealth and credit. There's an obvious end to that cycle. The author sees lowering taxes as the only way to significantly reverse the trend towards overspending, by freeing up income that before was paid towards taxes. His recommendation was a 10% tax cut across-the-board. Maybe Greenspan might make that recommendation, soon? Regards, LoD