Running on empty
how the Democratic and Republican Parties are bankrupting our future and what Americans can do about it
by Peter G. Peterson
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"When George W. Bush came into office in 2001, the ten-year budget balance was officially projected to be at a surplus of $5.6 trillion. But after three big tax cuts, the bursting of the stock-market bubble, and the devastating effects of 9/11 on the economy, the surplus has evaporated, and the deficit is expected to grow to $5 trillion over the next decade. America was once the greatest creditor to nations around the globe; it is now the largest debtor in the world. And the domestic deficit is only half the story. Given our $500 billion trade deficit and our anemic savings rate, we depend on an unprecedented $2 billion of foreign capital every working day. If foreign confidence were to wane, this could lead to a dreaded hard landing." "In Running on Empty, Peterson takes us behind the politicians' smoke-and-mirror games, and forcefully explains what we must do to rescue the future of our country."--BOOK JACKET.
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Subjects
Politics and government, Deficit financing, Economic conditions, Budget deficits, Economic policy, Balance of trade, Government spending policy, Entitlement spending, Fiscal policy, Budget, Budget, united states, United states, economic policy, 2001-2009, Government spending, History, Political parties, Civil service reformPlaces
United StatesTimes
2001-Showing 8 featured editions. View all 8 editions?
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First Sentence
"When the towers fell, I was out of town attending a corporate board meeting (which promptly adjourned) and spent the rest of the day watching cable news and trying to call my wife and family in Manhattan."
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Includes bibliographical references (p. [235]-239).
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First Sentence
"When the towers fell, I was out of town attending a corporate board meeting (which promptly adjourned) and spent the rest of the day watching cable news and trying to call my wife and family in Manhattan."
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| August 11, 2024 | Edited by MARC Bot | import existing book |
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