Problems with Washington's spending appetite

[Dave Farber <dave () farber net>]

http://news.com.com/2010-1071-992773.html

    The perfect storm hovering over tech
    By Declan McCullagh
    March 17, 2003, 4:00 AM PT

    WASHINGTON--Don't look now, but the capital's near-insatiable appetite
    for government spending may not bode well for technology firms.

    A combination of fiscal and political factors--including the pending
    invasion of Iraq, global concern about the stability of U.S. markets,
    and ballooning federal deficits--might wind up combining to trash
    technology stocks and further tighten the noose on venture capital.

    Forget last week's modest 2.5 percent rise in the Nasdaq index. What
    I'm talking about is the possibility of longer-term problems over the
    next five years with a much gloomier outlook. For this you can blame
    President George W. Bush's lack of fiscal restraint--and the cravens
    in Congress who acquiesce to irresponsible spending programs.

    [...]



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