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Hello Steve,

You used 4.5% as a desirable benchmark for growth. When was the last time we saw that kind of sustained growth that wasn't associated with a bubble (i.e. the dot-com bubble)?

It hasn't happened frequently; 3.5-4.0% has been there several times. I think the last time I saw 4.5% was in the out-year assumptions in Obama's 2010 budget proposal.

Thanks for the update (I know I requested it not too long ago). My current worry is what happens to the ratios when interest rates go back up as the market recovers and people start moving money from safe Treasuries to my risky / higher return investments.

Example: What would the TIE ratio be if current 2-year notes went up to 4-5%? (Other bills/notes adjusted accordingly) This type of out year scenario scares me a bit. I watch Greece/Spain/Italy's Bond markets hoping that's not the way we go.

Interest rates going up might not be bad news, because many think they are a result of an improving economy. In other words, an improving economy means more people working and paying taxes, which would offset the effect of higher interest rates.

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