OrlandoGator
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Sat Sep-10-05 01:08 AM
Original message |
An entertaining excerpt from my MBA Financial Management textbook: |
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On the economic factors that influence interest rate levels:
-snip-
Over the past several decades, the federal government routinely ran large budget deficits. However, in 1999, for the first time in recent memory, the government had a budget surplus. As a result, the government paid back existing debt faster than it issued new debt. If these surpluses had continued, the government would be a net supplier of funds rather than a net borrower. However, the events of 9/11, when combined with the current recession and the Bush administration's tax cuts, have caused a current budget deficit.
-snip-
Pretty tough when the staunchest fiscal conservative college professors think your policies suck, too.
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Eric J in MN
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Sat Sep-10-05 01:12 AM
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1. Shouldn't the cost of the Iraq War and the cost of the Medicare |
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giveaway to the pharmaceutical industry be figured in?
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speedoo
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Sat Sep-10-05 01:19 AM
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2. who's the author? Or authors? |
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Weston & Brigham used to be the kings of that kind of textbook. IIRC, they were pretty moderate... not that conservative.
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OrlandoGator
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Sat Sep-10-05 01:22 AM
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3. Financial Management: Theory and Practice, 11th Edition |
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Edited on Sat Sep-10-05 01:23 AM by OrlandoGator
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Thu May 02nd 2024, 07:32 PM
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