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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Palau who wrote (648962)	10/20/2004 11:52:48 PM
From: puborectalis	Respond to of 769670

FACT: Deficit Is Endangering Key Priorities: Deficits Slow Economic Growth: Large deficits will reduce national saving, crowd out private investment, and slow economic growth. According to former Treasury Secretary Robert Rubin and Wall Street economist Allen Sinai, long-term deficits have become so large that they ultimately could lead to serious "financial and fiscal disarray" and cause a "fundamental shift in market expectations and a related loss of confidence at home and abroad." [Center on Budget and Policy Priorities, 1/28/04; Brookings Institution, 1/04] IMF Says The Deficit Is Endangering The Global Economy: An IMF report concluded "large U.S. fiscal deficits also pose significant risks for the rest of the world. A 15 percentage point increase in ratio of U.S. public debt to gross domestic product over the next decade would raise real interest rates by an average of one-half to one percentage point. The adverse effects of U.S. deficits would spill over into global investment and output." [Associated Press, 1/7/04; Dow Jones, 1/7/04] Exploding Debt Coincides With Baby Boomers Retirement: In 2011, the first of the baby-boomers will have reached retirement age, coinciding with an explosion of the deficit and massive debt interest payments. By running large deficits in the years before the baby boomers retire, the country is squandering the opportunity to prepare for this major demographic change. [Center on Budget and Policy Priorities, 1/28/04] FACT: Public Is Increasingly Concerned About Deficit: A January 2004 poll by the Pew Research Center found that 51 percent of respondents called the deficit a top priority for Mr. Bush and Congress -- up from 40 percent a year earlier and 35 percent two years ago. [New York Times, 1/22/04]