[lbo-talk] deficits

[mike larkin]

What about this argument that big deficits cause long
term interest rates to rise? Is there anything to
that, in your view?

--- Doug Henwood <dhenwood at panix.com> wrote:
> Today's Goldman Sachs economic commentary notes:
> 
> >DAILY FINANCIAL MARKET COMMENT 06/17/03 Goldman
> Sachs Economics
> >
> >*  The US budget outlook continues to deteriorate. 
> Although our
> >$425-billion estimate of the fiscal 2003 deficit
> still looks
> >reasonable, we are lifting our estimate of the
> fiscal 2004
> >shortfall to $475 billion from $450 billion.  Over
> the next
> >ten years (fiscal 2004-2013), we now expect a
> $4.5-trillion
> >cumulative deficit, versus $4.2 trillion when we
> last wrote
> >about the long-term budget outlook in mid-March. 
> Risks to
> >both estimates tilt to the high side.
> 
> We're going to be hearing more of this.
> 
> Doug
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>
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