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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: ild who wrote (228219)3/14/2003 4:03:32 PM
From: ild  Read Replies (3) of 436258
 
03/14/2003

WASHINGTON (Dow Jones)--Goldman Sachs (GS) economists said the U.S.'s long-term budget outlook "is much worse than official government projections, with annual deficits apt to cumulate to more than $4 trillion over the next 10 years."

In a new analysis, the Goldman economists said, "Unfortunately, the sharp deterioration in the budget outlook does have negative economic consequences. Interest rates will be higher and capital formation lower than would otherwise be the case."

They said they anticipate budget deficits of at least $375 billion and $425 billion, respectively, in fiscal years 2003 and 2004.
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