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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (45039)	1/30/1999 10:44:00 AM
From: Bonnie Bear	Read Replies (1) \| Respond to of 132070

Budget SURPLUS? HOHOHOHOHOHEHEHEHEHggggg....pppppppfffh... It's exactly like Joe Sixpack..he's so badly in debt he can't pay his monthly payments on his credit cards (the federal budget) and his mortgage (the national debt)..he's been putting way too much on those credit cards (entitlement and special interest programs). So he refinances his house with a no-money-down lower interest rate mortgage (interest rate cuts) that has negative amortization and has a balloon payment after ten years (social security and medicare) and takes money out of the house (increases the debt)..and he still needs more income to pay those nasty debt payments, so he takes on a night job (propping up the stock market to increase tax revenue)...and lo and behold, when he gets done there's cash left over to put in the checking account ("Monica...we're rich"!") and he has just enough to meet his monthly payments. And what about the negative amortization, the balloon payments and the principal on the credit-card debt? Oh THOSE.... ... he KNOWS inflation will take care of the value of the house, maybe in ten years he can refinance again to take care of the balloon payment.. but for now, get Monica and a see-gar....we're in fat city. Tomorrow? Oh we'll get back to that later.. WHAT SURPLUS? Hohoho...the extra money goes to pay for debts THEY DON"T ADMIT ...like the IMF.

To: Ilaine who wrote (45039)	1/30/1999 11:02:00 AM
From: Don Lloyd	Respond to of 132070

CB - (Why don't we pay off the debt?) Fundamental misconception, it's the politicians that _get_ paid off. The federal debt is like Clinton, even if you pay it off, it won't stay bought. -g- Regards, Don

To: Ilaine who wrote (45039)	1/30/1999 11:10:00 AM
From: Mike M2	Read Replies (2) \| Respond to of 132070

CB, here is your budget surplus nypostonline.com Mike

To: Ilaine who wrote (45039)	1/30/1999 11:18:00 AM
From: Mike M2	Read Replies (1) \| Respond to of 132070

To all, another great link everything you always wanted to know about bubbles ( some great history) and internut mania. ho ho ho taguru.com Mike

To: Ilaine who wrote (45039)	1/30/1999 3:06:00 PM
From: Merritt	Read Replies (2) \| Respond to of 132070

CB: I can't match Bonnie Bear's great note, darn it...but I don't think most of the people in this country know the difference between the budget deficit and the national debt. As long as people are focused on what a great job Clinton has done in reducing the deficit (thanks to his own proclamations, and the tacit approval of the press by giving credence to his words by repeating them without realistic criticism), then the gov't isn't going mess up the equation by introducing another factor...they might not like the political result.