On the recordFebruary 23, 1994
let me make one other point that I should have made to Senator Conrad earlier when I talked about countercyclical effect. I mentioned that those who now receive the $293 billion in interest are more likely to save the money than someone who gets Social Security or something like that. What I should also mention is that we have 17 percent-plus--no one knows what that plus is--of that interest that goes to Japan, Great Britain, the Netherlands, Saudi Arabia, and other places. That does not do anything. That is roughly $60 billion-plus a year that is a drain on our economy rather than a stimulus to our economy.
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