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Politics : PRESIDENT GEORGE W. BUSH
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To: willcousa who wrote (663471)12/1/2004 10:03:09 PM
From: Kenneth E. Phillipps  Read Replies (3) of 769667
 
Foreign ownership of the US national debt has risen to $1.8 Trillion or half of the privately held debt. 10 years ago, foreigners owned just over 20 percent of the debt.

The declining dollar and the budget deficit and trade deficit may force a tax increase. We may have to raise taxes to create confidence in the dollar.

nationalreview.com
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