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Re: roni post# 6665

Thursday, 10/30/2003 10:40:44 AM

Thursday, October 30, 2003 10:40:44 AM

Post# of 147537
OT: Economic: Trick or Treat

Roni, A good percentage of the 7.2 % GDP is deficeit spending given to Haliburton, Becktel, Worldcom and numerous other American defense contractors from our massive Federal debt.

If we had a robust economy the fed would have tightened the money supply and raised interest rates.

We are in a Wartime economy without any meaningful Job growth and the IOU's will eventually catch-up to us in higher taxes or fees down the road. If this economic situation is not corrected soon and the Boomers begin to retire the tax rates will have to go up or federal spending will have to take massive cuts.

Just as Iraq has become a quagmire our economy is headed in the same direction. Just don't count on Social Security, Medicare or Job security because the current White House and Congress will bleed this country dry.



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