Hart Nat Hentoff David Horowitz Arianna Huffington Marianne Jennings Michael Kelly Mort Kondracke Ch. Namely, what to do with the overabundant inflow of tax revenues that are filling the Treasury coffers. Perhaps Mr. Greenspan will think about this in the run-up to the next FOMC meeting. For every time he tightens the policy noose around the economy, he threatens to block the incredible budget surplus story.
Economic growth solves a lot of problems, including government fiscal problems.
In recent months our central bank has worried out loud that too much stock market wealth, job creation, productivity and economic growth will cause inflation. Phillips curve hypothesizing. Actual core inflation rates have barely budged even after nine years of cyclical growth. Make that eighteen years of consecutive prosperity. On the other hand, we know empirically that more people working, investing, innovating and risk-taking pay more taxes on their successful effort.