I think this puts the odds of a rate increase at their June 29-30 meeting at about 50 percent.

I don't know of many serious economists who think that a tax increase, immediately implemented, is a good idea.

Many mistakenly think that equates to a 6 percent salary increase.

I think (Fed Chairman) Alan Greenspan has made it all but official, we'll get another rate cut in June, but my guess is a quarter point rate cut, principally because of what we're seeing on the inflation report. The CPI and PPI have been trending up over the last two years.

We're going to look at it again in June, we just want to make sure we when we do increase purses we can sustain it, we wouldn't want to have to go back once we increase it.

I think it's horrendous that there's even a proposed 30 percent tax increase.