Bush Economic Policies Come Under Fire

[pinto]

Sun January 11, 2004 10:01 AM ET

By Tim Ahmann
WASHINGTON (Reuters) - President Bush is facing growing criticism that his economic policies, including a planned push to make his tax cuts permanent, amount to land mines in the U.S. economy's path.

<snip>

Three groups -- the business-backed Committee for Economic Development, the bipartisan Concord Coalition and the liberal Center on Budget and Policy Priorities -- have jointly warned of cumulative deficits totaling $5 trillion over the next 10 years, if current policies remain in place.

Much of the shortfall to date has been covered by borrowing from overseas -- a factor pushing the deficit in the U.S. current account, the broadest measure of international trade, to record levels.

Analysts say the widening current account gap has contributed to a fall in the dollar, which hit record lows against the euro on Friday after a report showed a scant 1,000 U.S. jobs were created last month.

http://www.reuters.com/newsArticle.jhtml?type=politicsNews&storyID=4106694&pageNumber=0

[KissMyAsscroft]

1. But it worked under Reagan!!!!

*Sticks fingers in ears...lalalalalalalallalallalaalalal!!!!*