almost at on its back rope's bn growgvery swly until recently, particularly wi a higlel ofnemplo so if yooke world as whole while we were expanding, there was ve ready availabilityf goods. when inflaon rises in coury ose citins have optionof buying from abroad. there was a loof emphasis on een resaint. and that was particularly strong during the 1990s. there was a great debate at the beginning of the clinton administration about how to deal with what was perceived as a relatively small recession, but nonetheless a recession, what to do. there were those who wanted to spend their way out and others said no let's have budgetary restraint. that will be better for the economy, that will keep interest rates down, it will tend to restrain inflationary pressures and, in the long run we'll be better off. and that was i think fortunately, the approach that was adopted. and lo and behold, the economy did so well that we got some productivity increases, that revenues increased faster than expected budget expenditures were held down and for the first time in decades we had budgetary surpluses. schoumac