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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Gary H who wrote (17456)	3/8/2003 6:59:49 PM
From: sea_urchin	Read Replies (2) \| Respond to of 81943

Gary >That is the public, what about the Fed? Their debt is humungus Have you seen this? washingtonpost.com >>>The congressional analysts projected that under Bush's proposed tax and spending plans, there would be deficits of $287 billion this year and $338 billion in 2004. They would then begin a gradual decline to $102 billion by 2013. The largest shortfall ever was $290 billion in 1992. Those figures were about $50 billion worse for each year than forecasts the congressional office made in January, reflecting a continued weakening of federal revenue collections and higher spending that Congress has approved.<<< asia.reuters.com >>>"It's a really ugly report for the economy," said Cary Leahey, economist at Deutsche Bank Securities in New York. "There were huge declines in jobs in almost every industry. The mobilization of workers who are in the reserves may be worth about 100,000 of those job losses. But even with that, we have a big decline in jobs," he added.<<< Yes, they have serious financial problems. I just wonder how the debt can ever be repaid? It's not surprising that the Americans are very worried.