Perils of an Empty Piggy Bank

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Registered: 11-11-1999
Perils of an Empty Piggy Bank
Fri, 09-24-2004 - 5:42pm
By David Ignatius Friday, September 24, 2004; Page A25

Wall Street is already voting in the 2004 election, and it's giving President Bush surprisingly low marks. Despite strong corporate profits, the Dow Jones industrial average has been stuck just above 10,000 -- trading in the same sluggish range it has maintained all year.

Reports this week by two respected economists suggest an explanation. They argue that fiscal and monetary policies during the Bush administration have effectively raided the nation's piggy bank to finance current spending. Without changes in policy, they suggest, we may be looking at an economy that continues to tread water -- or begins to sink.

http://www.washingtonpost.com/wp-dyn/articles/A45793-2004Sep23.html

dablacksox


Cynic: a blackguard whose faulty vision sees things as they are, not as they ought to be.---Ambrose Bierce, The Devil's Dictionary.