Running on Empty: How the Democratic and Republican Parties Are Bankrupting Our Future and What Americans Can Do About It by Peterson, Peter G. | Banana Books
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Book Cover
Running on Empty: How the Democratic and Republican Parties Are Bankrupting Our Future and What Americans Can Do About It
"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.
Book Details
Format
hardcover
ISBN-10
0374252874
ISBN-13
9780374252878
Publication Date
Jul 2004
Item Weight
0.99 pounds
Length
8.27 inch
Width
5.51 inch
Height
0.67 inch
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.