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My Presentation on Capitol Hill: Feb. 5, 2001

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to staff members of the House Ways & Means Committee,
and the Senate Finance Committee

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Slide 3 of 38
We've also had six major economic contractions (. . . economists used to call all of them "depressions"). Note the timing of the economic contractions (red pointers). Each one began during, or immediately following, a period of debt reduction. Six debt-reduction tries, six economic disasters.  Six consecutive coincidences?? If so, it's the strangest string I've seen in my career. (Don't know about you, but when the dice come up snake-eyes six consecutive times, I start to doubt that it's just a "coincidence.")
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2001, Steve Conover

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