


     What kind of brainless clod doesn't understand the difference 
     between a "PROPOSED BILL, BLOCKED IN CONGRESS" and an "EXECUTIVE
     ORDER, ISSUED BY CLINTON, AND CRAMMED DOWN OUR THROATS".

     
  Here, let me give a remedial course in thinking:

     In order to create the appearance of low interest rates, Uncle Sam
     has shifted his debt from long-term to short-term securities.

     In effect, Uncle Sam has transformed the Federal Goverment into
     one giant S&L, waiting to blow.

     Short-term rates rise --->  Interest payments on Deficit rise --->
     Uncle Sammy has to borrow more ---->  Causing Short-term rates to rise.

     Uncle Sammy gets caught in a positive feedback loop.  His options:

       i) Raise taxes a truly unimaginable amount
       ii)  Make truly unimaginable spending cuts

    Results of i):  large numbers of pissed-off citizens
    Results of ii): large numbers of pissed-off citizens
