The
New York Times today places
this article front and center on the front page:
I.M.F. Says Rise in U.S. Debts Is Threat to World's Economy
With its rising budget deficit and ballooning trade imbalance, the United States is running up a foreign debt of such record-breaking proportions that it threatens the financial stability of the global economy, according to a report released Wednesday by the International Monetary Fund.
Prepared by a team of I.M.F. economists, the report sounded a loud alarm about the shaky fiscal foundation of the United States, questioning the wisdom of the Bush administration's tax cuts and warning that large budget deficits pose "significant risks" not just for the United States but for the rest of the world.
Interesting, no?
(More)
Dean and Gephardt have been blasted and ridiculed for sugesting that all of Bush's tax cuts be repealed.
Dean has been making noises for the last couple of days about providing some form of middle class tax relief (not surprising and as predicted by many) while still holding to his position that the Bush cuts need to be rolled back.
With today's IMF report, Dean's strategy looks to be ahead of the curve on this issue.
According to the IMF, the Bush tax cuts have the potential drive this economy -- and perhaps the world economy -- off a cliff (and here's the political addition) all so he can provide tax cuts to his millionaire constituency.
If presented that way (over and over and over the way Republicans stay on message), Dean and Gephardt's position will look prescient, not "suicidal" (as portrayed by the rest of the field.
This issue is beginning to sound more and more like Iraq...