now james galbright is an esteemed economist from the university of texas. he points out an interesting tidbit in the cbo projections, of course, every reporter writing about this uses these same projections. that's what everybody is talking about. and the cbo projects relatively large and increasing budget deficits over the next year. especially if the so-called bush tax cuts which we might rename now the obama tax cuts are not allowed to expire on schedule. he says it's an interesting thing that the cbo does. they assume that we will have inflation at about the same rate as now. one half or two percent. and they assume that interest rates will go from close to zero to 5% over the next five years. now i know that the worse thing you could do in public speaking is to get wonky, but this is crucial to understand. the only reason they raised interest rates is to attract buyers who the inflation is high. so it's pretty much impossible to have very low inflation as we have now or relatively low inflation and magically have them increase interest rates from almos