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Politics : Politics for Pros- moderated

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To: LindyBill who wrote (746)	5/9/2003 1:10:47 PM
From: KyrosL	Read Replies (1) of 794188

>>minor compared to the size of the economy<< It looks like the budget deficit for this year will be $300 billion and next year will climb to $400 billion. That's 3% and 4% of GDP respectively. Not minor, especially when the revenue side includes the huge Social Security contribution surplus -- something that some politicians wanted to put in a "lock box" not too long ago. The trade deficit will be $500 billion this year, 5% of GDP. Again, not minor. In fact, a record. Interest rates are low because AG is pumping furiously and because foreigners have not yet decided to get tough. When they do, watch how fast the dollar loses its position as the world's reserve currency. Your dollar, by the way, is buying 30% less in Europe than when Dubya started his term. So at least some of the adjustments are under way.

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