Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (39960)	10/22/2003 7:36:21 AM
From: Snowshoe	Read Replies (1) \| Respond to of 74559

Rubin criticizes budget deficits Tells editors: Make public aware of economic issues cbs.marketwatch.com By Jon Friedman, CBS.MarketWatch.com Last Update: 12:35 PM ET Oct. 21, 2003 RANCHO MIRAGE, Calif. (CBS.MW) -- Former Treasury Secretary Robert Rubin criticized the administration's record budget deficits on Tuesday and urged American magazine editors and publishers to work hard to explain the significance of economic issues. Rubin, who is currently a director of Citigroup (C: news, chart, profile) and the chairman of its executive committee, called the budget deficit "a serious threat to economic well-being" and said that the "never-ending deficits" will continue to hurt the financial markets and investors. Rubin urged the 500 attendees of the American Magazine Conference near Palm Springs, Calif., to accept the challenge of conveying the importance of such difficult issues as budget deficits and trade to their readers, who might prefer not to confront these problems. "You in the magazine industry can have a major impact," Rubin said. Rubin is the author of a forthcoming book called "In An Uncertain World," which will be published next month. Rubin is also a veteran of Wall Street. He was the co-chief executive officer of Goldman Sachs (GS: news, chart, profile) in the 1990s before moving on to the Clinton administration. He was treasury secretary from 1995 to 1999, during a period of strong economic growth. Rubin has long argued that fiscal discipline in Washington laid the groundwork for the strong economy of the late 1990s by adding to national savings and keeping interest rates low, a view that some have derided as "Rubinomics." Rubin also stressed that the trade issue would be "widely discussed" by candidates for the presidency in 2004. He said these issues will have "effects on consumer confidence" and are important as the campaigns progress. Jon Friedman is media editor for CBS.MarketWatch.com in New York.