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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (41031)	9/7/2005 10:59:58 AM
From: GST	Respond to of 110194

<Already, federal cost estimates for relief and recovery efforts are running as high as $150 billion, adding another broader economic impact -- a worsening deficit picture. The White House budget office in July was predicting that the deficit for the budget year ending Sept. 30 would drop to $333 billion, $79 billion below last year's record, and that next year's deficit would be $341 billion. Now, both figures are rising fast as the government spends about $2 billion a day on the Katrina relief effort, all of which adds directly to the deficit. Holtz-Eakin said in his letter to congressional leaders that the adverse impacts from Katrina should be concentrated in the second half of this year and he said that economic activity could receive a boost next year from rebuilding. However, he cautioned that the positive impacts could take longer to be felt because rebuilding may take longer to get started this time around.> biz.yahoo.com