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World Bank warns U.S. to cut deficits
April 6, 2005 |
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Since the Bush administration hasn't been interested in listening to any dissenting opinions on the federal deficit, the World Bank has now stepped up to the mic and issued a warning: The incredibly high U.S. deficit, financed in large part by a few Asian countries' dollar reserves, is in danger of sparking a foreign exchange crisis which would decimate not just the U.S. economy but the entire world market. The last line of the article is especially heartening. (Yahoo News, via Marc)
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