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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 386.87-0.1%4:00 PM EST
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To: TobagoJack who wrote (1678)10/27/2005 4:37:54 PM
From: elmatador  Read Replies (1) of 218160
 
OECD ask the US to cut military expenses to reduce deficit. The Pentagon will receive between during this FY between US$ 400 billion and US$ 500 billion, depending on the results of the negotiations with Congress.

Since 2001, when Bush took over from Clinton, expenses increased by 40%,double than in the same period during Clinton administration.

George W. Bush, promised to reduce the deficit by half by 2008. Deficit reached US$ 319 billion in FY ended September

Defense expenses hasn't included for a few years the expenses in Iraq and Afghanistan

The report forecast a decrease in the US economic growth from 4.2% last year to 3.25% in the next 18 months.

The OECD says "inflation will continue increasing, mainly due to high oil prices".

The report also alert for the end of the boom in housing prices, even though it could not be a drastic correction, it can reduce citizens' income.

The incredible increase in housing prices of the last years, result of low interest rates, brought big gains for families and supported internal demand.

As the FED raise interest rates the real estate market cools down and analysts fear a repercussion in consumption which is responsible for 2/3 of the country's economic activity.

Besides that the OECD says the Americans use more volts and gasoline liters that the rest of the developed countries.
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