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The U.S. may save $1.5 billion in interest in 1987.

The savings would come from plunging interest rates, James C. Miller III, director of the Office of Management and Budget, said in Detroit. “Lower interest rates, everything else being equal, (also) help stimulate the economy,” producing new revenue for the federal government, he said. Rates on six-month Treasury bills stood at nearly 16% in 1981 and have since dropped to 6.32%.


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