We accelerated our capital spending in the fourth quarter, particularly in international and next-generation network deployment, which should not only sustain future revenue growth but also drive significant cost reductions across all communications services.

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Our communications services revenue growth is being driven by continued strong top-line performance in data, Internet and international - three of the fastest growing and most profitable areas within communications services.

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A variety of national and international studies indicate that the broad-based deployment of information technology can have a substantial impact on our nation's economic productivity and growth as well as the educational and social success of our citizens.

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We must speed up the deployment of broadband in order to bring high-speed data services to homes and businesses. The spread of information technology has contributed to a steady growth in U.S. productivity.

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Massive Reductions

Ive been sacrificed in the name of the company,
Ive been victimized for the sake of economy.
I had a big house, a big car,
Expense account and credit cards,
But now look what theyve done to me.
Theyre making massive reductions,
Its all mass production and assembly lines.
Theyre making massive reductions,
Massive reductions.
Theyre laying me off all because of inflation,
Im losing my job and my reputation.
Good-bye my big house, my big car.
Now its all up to welfare,
I hear that everybodys going there.
Theyre making massive reductions,
Massive reductions to stay alive.
Whoa, theyre making massive reductions.
Good-bye my big house, my big car,
Now its all up to welfare,
I hear that everybodys going there.
Theyre making massive reductions,
Massive reductions to stay alive.
Whoa, theyre making massive reductions.

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Government spending is being restrained, the economy is making progress and moving forward, and the pro-growth, tax cutting policies put in place have allowed businesses to grow, which has brought in additional tax revenue to help pay off the debt.

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When they call the slightest spending reductions 'painful', we will say 'If government spending prevents pain, why are we suffering so much of it?' And 'If you want to experience real pain, just stay on the track we are on.'

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The standard growth theory tells us that economic growth in per capita basis comes from mainly two sources: capital deepening and total factor productivity growth, or TFP growth.

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I do not intend to dispute in any way the need for defence cuts and the need for government spending cuts in general. I do not share a not in my backyard approach to government spending reductions.

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The natural capital is not income, but we spend our natural capital as if it were revenue, as if it were going to come back next year without any problems, whereas these renewals in nature can take hundreds of years.

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John F. Kennedy

The tax on capital gains directly affects investment decisions, the mobility and flow of risk capital... the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth in the economy.

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From where I am sitting much of the country now sees the President the way I have seen him since the campaign. He is an ambitious leftist, with little understanding of economics, and with far-reaching goals to create significant and irreversible growth of government and redistribution of wealth through dramatic changes in tax, regulatory, and spending policies.

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The President is destroying the fabric of America with a combined policy of war, tax cuts for the wealthy, and reductions in spending for domestic needs.

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Pastime Paradise

Theyve been spending most their lives
Living in a pastime paradise
Theyve been spending most their lives
Living in a pastime paradise
Theyve been wasting most their time
Glorifying days long gone behind
Theyve been wasting most their days
In remembrance of ignorance oldest praise
Tell me who of them will come to be
How many of them are you and me
Dissipation
Race relations
Consolation
Segregation
Dispensation
Isolation
Exploitation
Mutilation
Mutations
Miscreation
Confirmation...to the evils of the world
Theyve been spending most their lives
Living in a future paradise
Theyve been spending most their lives
Living in a future paradise
Theyve been looking in their minds
For the day that sorrows gone from time
They keep telling of the day
When the savior of love will come to stay
Tell me who of them will come to be
How many of them are you and me
Proclamation
Of race relations
Consolation
Integretion
Verification
Of revelations
Acclamation
World salvation
Vibrations
Stimulation
Confirmation...to the peace of the world
Theyve been spending most their lives
Living in a pastime paradise
Theyve been spending most their lives
Living in a pastime paradise
Theyve been spending most their lives
Living in a future paradise
Theyve been spending most their lives
Living in a future paradise
Weve been spending too much of our lives
Living in a pastime paradise
Lets start living our lives
Living for the future paradise
Praise to our lives
Living for the future paradise
Shame to anyones lives
Living in the pastime paradise

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When I became governor, spending actually increased 28 percent my first term. Revenue increased 42 percent my first term without raising anybody's taxes. We did it because we had more taxpayers with more taxable income. That's how you get the revenue up. We did that without raising anybody's taxes.

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The local communities, through their leaders, were able to build a communications network that allowed my work here to reflect the needs and interests of the people within the 9th Congressional District. It's been an honor to do that and we did so successfully.

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The Internet was developed in large part by U.S. government research funding to develop new communications networks, starting with a network created by the Department of Defense.

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Vivendi will be one of the very few top communications groups of the Internet age. We will have customers all over the globe, providing services through all kinds of technology.

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Government does not have a revenue problem; government has a spending problem. Government does not have a revenue problem; government has a priority problem. It is time that we begin to fine tune our focus and decide what the priority of government ought to be.

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As the new endogenous growth theory suggests, TFP growth is closely related to accumulation of the intangible capitals, such as human capital and research and development.

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Last Quarter

I'm in the last quarter, but am i sad?
You bet i'm not because i've had
A lot of ups and just a few downs,
Mostly smiles and occasionally frowns.

If i had to do it over again,
Would i carefully think and better plan?
Maybe i would, but i still couldn't know
Which curve balls life might throw.

For me the last quarter's just like the first.
It's the present i love and the future i thirst.
And the past is just that for me.
It taught me a lot, but it's a memory.

In this last quarter i have no sorrow.
I treasure today and can't wait for tomorrow.
Then when time passes this quarter i'm in,
I'll rest in peace knowing love did win!

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