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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: DebtBomb who wrote (59727)	5/1/2002 12:13:19 PM
From: westpacific	Respond to of 99280

O'Neill - Bush needs to get rid of him!!!! -Fixing current-account gap would hurt U.S. WASHINGTON, May 1 (Reuters) - Treasury Secretary Paul O'Neill said on Wednesday that any moves to narrow the U.S. current deficit, regarded by some as a potential future threat to global economic stability, would harm the U.S. economy. "All the interventions that have been modeled would do damage to the U.S. economy if we decided to reduce the size of the current account deficit," O'Neill told a Senate banking panel. "So I don't find it very appealing to say we're going to cut off our arm because someday we might get a disease in it." The Treasury chief reiterated he regards the gap in the current account -- the broadest measure of trade -- as "an artificial intellectually useful construct."