Presidential winner faces 'twin deficits' battle

[UpInArms]

http://story.news.yahoo.com/news?tmpl=story&cid=1521&e=4&u=/afp/us_vote_economy_deficits

WASHINGTON (AFP) - Whoever wins the November 2 presidential election will inherit massive budget and trade deficits that pose huge economic challenges that will give little relief for President George W. Bush (news - web sites) or rival John Kerry (news - web sites).

Washington has gone from a federal budget surplus of 236 billion dollars in 2000 to an estimated deficit of 422 billion dollars for the fiscal year that ended September 30.

Moreover, in the area of trade and investment, the United States had a deficit of 166.2 billion dollars in the second quarter in the current account deficit, the broadest measure of trade and investment flows.

The twin deficits are telling the United States that it is consuming more than it is producing, and requiring foreign investors to fill the gap with capital.

But many economists say this is unsustainable and will further weaken the dollar, erode US living standards and destabilize the global economy.

...more...

Did they just now notice this problem???

[leftchick]

1. LOL! Like bush* gives a shit?

Hello ameriKa your pretzeldent is TRYING to bankrupt your country!!

[Salviati]

2. WTF?

it's not like we don't have a president right now? what's he doing about this, oh yeah... jack shit!

[UpInArms]

3. don't you just love the wording on this article

Whoever wins the November 2 presidential election will inherit massive budget and trade deficits that pose huge economic challenges that will give little relief for President George W. Bush

like GWB will "inherit" the problem that he created!

No - he made this freaking mess!

Kerry will "inherit" the *Co legacy of debt and destruction.

*Co. inherited peace and prosperity.

This is such bullshit :fumingawayinanger:

[daleo]

6. Yeah, that's good

He inherits a problem of his own making. This inappropriate use of the passive voice is one of the ways the media pinch-hits for Bush.

I wonder if Bush will "inherit" the Iraq war too.

[54anickel]

7. Nah, it's that whole US as a corporation mentality - hence no

responsibility is assumed. It's all just circumstance and happen-stance.

[IthinkThereforeIAM]

4. The interest rate hikes...

... that came out this summer are about to hit the economy, negatively. Interest rate hikes usually are not "felt" until six months after enactment. It should start really pinching right after the election.

[Bandit]

5. I'm sure that is exactly what Bush* will say if he wins

I inherited this economic mess. D'Oh ...that is what he is saying now so why would it change? :crazy: