America’s economy
Aug 16th 2005
From Economist.com
GEORGE BUSH has the dubious distinction of presiding over the largest negative budget swing in American history: from a surplus of $236 billion in 2000, the year he was elected, to a deficit of $412 billion, or 3.6% of GDP, when he stood again in 2004. Even in an economy with output of around $12 trillion, $648 billion is a lot of money to misplace.
Analysts were aghast when the Bush administration’s Office of Management and Budget (OMB) projected that the fiscal year to September 2005 would bring bigger deficits still: $427 billion, according to numbers released in February. The more cynical observers suggested that the administration was simply releasing a gargantuan number for the pleasure of later telling voters that the budget deficit was closing faster than expected. In support of their argument, figures released by the Congressional Budget Office (CBO) in March projected a deficit of only $365 billion. …
What do you guys think of this topic? The Canadian dollar for the first time in over 30 years has become larger than the United States dollar.
This bothers me very much, our nation relies on our dollar being lower than the americans for a large deal of trade. There are some positives, but for the most part, we are losing lots of money right now...
Hell yeah... he's keeping the "Child raping, freedom hating, America destroying, God cursed, evil-do'ering ter'ist" at bay. So what if it cost the tax payers 700 million a day and ruins foreign relations.
Our dollar is naturally worth more than yours (comparatively our economy is and has been much better than yours, if just smaller). In the 80s, iirc, the government decided to slash our dollar in order to promote American investment.
Economic expansion based on debt only works for so long. What we've been doing for the last two and a half decades (yes, this started long before Bush) isn't ultimately sustainable. Look for a very hard crash in the coming year or so.
__________________ There are more humans in the world than rats.
Considering an over extended war and trade difficulties. The Economy is actually quite healthy. We have seen trouble in the real estate department, but nothing to major.
__________________ "If you tell the truth, you never have to remember anything" -Twain
(sig by Scythe)
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Oct 31st, 2007 04:53 PM
