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Originally posted by Rob67
Uh…Bush won a close election and was handed a failing economy punctuated by one of the deadliest attacks on American soil in its history and he isn’t the best public speaker. But, at this time, the economy is realizing a complete turn-around.
Rob
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http://www.nytimes.com/2004/01/08/bu...08FUND.html?th
I.M.F. Says Rise in U.S. Debts Is Threat to World's Economy
"Prepared by a team of I.M.F. economists, the report sounded a loud alarm about the shaky fiscal foundation of the United States, questioning the wisdom of the Bush administration's tax cuts and warning that large budget deficits pose "significant risks" not just for the United States but for the rest of the world.
The report warns that the United States' net financial obligations to the rest of the world could be equal to 40 percent of its total economy within a few years — "an unprecedented level of external debt for a large industrial country," according to the fund, that could play havoc with the value of the dollar and international exchange rates."
The markets are also weak this morning on the news that initial jobless claims rose last week.