Message-ID: <6286990.1075852811129.JavaMail.evans@thyme> Date: Mon, 1 Oct 2001 06:01:22 -0700 (PDT) From: mark.lay@solutioncompany.com To: kenneth.lay@enron.com Subject: Bush Economic Team "Inept" Mime-Version: 1.0 Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: 7bit X-From: mark.lay@solutioncompany.com@ENRON X-To: Lay, Kenneth X-cc: X-bcc: X-Folder: \KLAY (Non-Privileged)\Inbox X-Origin: Lay-K X-FileName: KLAY (Non-Privileged).pst This is from a morning briefing that goes out to all of the Schwab clients: So it's a near-certainty that more stimulus is coming from Washington. But the details change constantly, as trial balloons are floated and shot down day after day. Some quick highlights: ? In stark contrast to its foreign policy/defense team, the Bush economic brain trust looks inept, unable to coordinate its plans and apparently unwilling to provide much direction to Congress. ? Filling that vacuum are Republicans who want big tax cuts and Democrats who want to spend much more. ? This means the budget surplus in fiscal 2002 is in free fall. It's possible that the budget could go into deficit this year, but our guess is that it will be in the black by a little, probably under $50 billion. But these estimates aren't worth much right now - the big story is that the surplus is melting fast. Mark Lay 713-552-9518 CONFIDENTIALITY STATEMENT: This information is intended only for the use of the individual or entity to which it is addressed and may contain information that is confidential under applicable law. If you are not the intended recipient, you are hereby notified that any dissemination of this information is strictly prohibited. If you have received this information in error, please notify us immediately by telephone at (713) 552-9518 or by fax at (713) 552-9403, and confirm that you have destroyed this information and any copies. Thank you.