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Just three or so years ago, we�*ve been at a sort of reverse policy and that would clearly make graduates somewhat worse off particularly as it will probably be applied to people who have already graduated. i don�*t think we get to see any increases in taxes or fuel or domestic energy. as ever, alcohol taxation could go either way. i wonder if we could take a step back and i wonder if you could paint a picture for us, you have the figures, this is your social area, what does the economy look like right now? it what does the economy look like riaht now? :, :, what does the economy look like...

Don�*t forget this year is already been the biggest tax rise year since at least 1993. we�*ve had enormous tax rises announce this year, the national insurance site, the big corporation and income tax hikes announced back in march. i�*d be quite surprising if there�*s any doubt doing nothing else is going to be a big tax ours you did mention the student loan issue, it is possible to the point of which student loans are supposed to be repaid comes down. it went up just three or so years ago, we�*ve could have a sort of reverse policy and that would clearly make graduates somewhat wors...

Approach that debt wall. as we said many times, gregg, the europeans have hit that wall, they have to turn the corner, they've had to reverse policy. america is going down that road. if we add even more to the current decifit, which is about $1.4 trillion this year, you add to it another three -- another 30, $40 billion, you're hit thank wall sooner. that's the danger here. you could, repeat could, see a ig -- a big drop in the dollar. that's a possibility, butis coming closer if we extend the decifit. gregg: there's a danger on the other side, the political danger of appearing to be heartless...