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affairs. I hope that we will make some progress on deficit reduction this year. It has such a tremendous effect on the economy: borrowing and piling up debt. It could lead to high interest rates again. The high interest rates hurt business, the private sector, state and local governments by cutting the amount of money available to them.”
Congressman Slaughter added, however, that “several major economic problems are fairly well resolved... inflation is down to almost zero...interest rates are approximately one-half what they were in 1980... and country-wide employment is up. If the Gramm-Rudman targets are met that will mean a nearly 20 percent reduction in the debt. That’s about a 50/50 proposition -- but I’m still hopeful.”
Guitar lessons
The Rappahannock Association for the Arts and the Community is offering group guitar lessons, taught by noted musician Tom Espinola, at the Gay Street Theater beginning June 17.
The lessons will be held at 6:30 on Tuesday nights. The 10-week course will cost $5 per week plus a $5 registration fee.
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