Bush deficts threaten the PLANET!, page 1

Bush deficts threaten the PLANET!, page

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Topic started on 8-1-2004 @ 04:27 PM by Colonel

"With its rising budget deficit and ballooning trade imbalance, the US is running up a foreign debt of such record-breaking proportions that it threatens the financial stability of the global economy, according to the IMF. The report sounded a loud alarm about the shaky fiscal foundation of the US, questioning the wisdom of the Bush administration's tax cuts and warning that large budget deficits posed 'significant risks' not just for the US but for the rest of the world. The report warned that the net financial obligations of the US to the rest of the world could equal 40% of its total economy within a few years - 'an unprecedented level of external debt for a large industrial country' that it said could play havoc with the value of the dollar and international exchange rates... Bush's deficit reached $374 billion last year, a record in dollar terms but not as a share of the total economy, and it is expected to exceed $400 billion this year."
www.nytimes.com...

Am I being alarmist? Yes. Do I have a right to be? Yes. Is it all true?

Yes.

reply posted on 8-1-2004 @ 04:35 PM by DiRtYDeViL

We just need them dam kids to buy more drugs.

reply posted on 9-1-2004 @ 10:38 AM by Colonel

Ever notice how none of the repugnants will say anythig to this? They got a lotta mouth but when the truth is out in the for front, they hide. Remember when they said the economy was gonna boom? Unemployment was going down? Good times were coming? I'M TALKING THE ONES ON ATS, DAMN IT!

Do any of yo see that happening? No. See, they expect you to forget. Well, I don't forget. I remember each and every lie you repugnants make so I can remember what kind of evil scum you are.

reply posted on 9-1-2004 @ 02:17 PM by ConspiracyTheory

I take everything the IMF says with a grain of salt. Still, something must be done about the national debt. If the American people would just open their eyes and see that this kind of debt is destructive to our economy and that it WILL HAVE TO BE PAID FOR EVENTUALLY then MAYBE something could be done. I don't see that happening anytime in the future, if ever.

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