An entertaining excerpt from my MBA Financial Management textbook:

On the economic factors that influence interest rate levels:

-snip-

Over the past several decades, the federal government routinely ran large budget deficits. However, in 1999, for the first time in recent memory, the government had a budget surplus. As a result, the government paid back existing debt faster than it issued new debt. If these surpluses had continued, the government would be a net supplier of funds rather than a net borrower. However, the events of 9/11, when combined with the current recession and the Bush administration's tax cuts, have caused a current budget deficit.

-snip-

Pretty tough when the staunchest fiscal conservative college professors think your policies suck, too.

giveaway to the pharmaceutical industry be figured in?

Weston & Brigham used to be the kings of that kind of textbook. IIRC, they were pretty moderate... not that conservative.

Eugene F. Brigham and Michael C. Ehrhardt.

http://www.amazon.com/exec/obidos/tg/detail/-/0324259689/qid=1126333350/sr=2-1/ref=pd_bbs_b_2_1/103-1969392-4807809?v=glance&s=books