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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (226363)3/25/2005 9:17:09 PM
From: TimF  Read Replies (2) of 1572847
 
Deficit Grew for Four Straight Years

True, but it doesn't serve as an answer to any of my points. The deficit while larger than it should be, isn't out of line with deficits in the 80s and 90s, or with current deficits in other developed countries.

Economic Growth Has Not Exceeded Expectations

I guess that depends on your expectations, but I'm certainly not surprised by our level of our economic growth so I wouldn't say your statement is at all out of line. Now what's the point of making it (or quoting someone else making it)?

Cutting the Deficit in Half?

In the press statement announcing the $413 billion deficit figure, Treasury Secretary John Snow said the Administration was on track “to reach the President’s goal of cutting the budget deficit in half in five years, bringing it to a level that will be low by historical standards at less than 2 percent of GDP.”

As we have discussed in previous analyses of the Administration’s budget plans,* such deficit projections cannot be taken seriously;

Here I think you have a point that is both true and meaningful. It doesn't refute my points, or support your original contention that our fiscal situation is "like Argentina", but it is well supported, and it is relevant to our fiscal situation.

Tim
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