_________________________________________________
Economists say Bush must deal with deficits
"More economic pain will undoubtedly ensue"
The $500 billion budget deficits created by President Bush and the Republican-led Congress will be the top economic problem facing the president should he win a second term, Wall Street analysts say.
The twin deficits - the budget deficit and America's equally large trade gap - already are being blamed for the precipitous fall of the dollar, which has lost between 20 percent and 40 percent of its value against other major currencies in the past two years. And the deficits are starting to put pressure on mortgages and other long-term interest rates.
The twin deficits - the budget deficit and America's equally large trade gap - already are being blamed for the precipitous fall of the dollar, which has lost between 20 percent and 40 percent of its value against other major currencies in the past two years. And the deficits are starting to put pressure on mortgages and other long-term interest rates.
Fun fact: The misadministration's newly released budget projections reveal an anticipated budget deficit of $455 billion for the current fiscal year, up another $151 billion since February.
Fun fact 2: The Senate gave Squinty McGolfcart and his rebooblican allies a victory today by approving an $820 billion spending bill covering more than a dozen federal departments and agencies.
Nice going, dickheads.
No comments:
Post a Comment