We are helping the people that [George W.]Bush says are evil. Teheran couldn't be happier about the high oil prices resulting from the Iraq war.

Policies seemed almost deliberately designed to suppress new enterprise and job creation. How many Americans will start a business if the interest rates are 150 percent?

Moreover, because we chose to finance the way by borrowing, our deficits and debt has soared, and this means we have less room for maneuver, less money available to stimulate the eocnomy in the way needed.

International lending banks need to focus on areas where private investment doesn't go, such as infrastructure projects, education and poverty relief.

There must have been something in the air of Gary that led one into economics: the first Nobel Prize winner, Paul Samuelson, was also from Gary, as were several other distinguished economists.

The important lesson of the deficit is - and the national debt - is we have to be careful about how we're spending money.

America has had to turn to foreigners to finance its debt - not surprising since household saving in the last years has plummeted to zero. China is one of the largest holders of American debt.