Re: OT Winners and losers

Posted by ntmcj on September 19, 2005 at 09:10:49 from (165.247.175.13):

In Reply to: Re: OT Winners and losers posted by Paul in Mich on September 18, 2005 at 05:54:38:

I in no way believe the US is in dire straits financially. We have hit a big rough spot in the road but we will come out of it one way or another. The economy is still humming along in large part due to consumer borrowing. Cashing out equity in homes is rising rapidly. One of the main reasons foreign banks like treasury notes is the political stability of the US. As far as pork spending, we would have to eliminate almost all non entitlement spending to eliminate the deficit. I am not sure how the govt. cooked the books. The budget surplusses had more to do with the large influx of revenue due to the Dow and Nasdaq going thru the roof and Congress refusing to go along with many of the White House's budget requests. We have had a bad run of luck since about 2000. OPEC tightened the supply of oil they put on the market at the same time the Asian economies were dramatically increasing their purchases. The high tech industry stock market bubble finally burst which carried over into the Dow. My retirement account statements will attest to that. And on top of that, Sept 11 happened and we were forced to dramatically increase defense spending.

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