Word: gdp
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...live in poverty, when according to the last census Mexico's population is only 83 million. I also agree that the positive and negative impact of NAFTA on the U.S. economy was disproportionately assessed by both Ross Perot and Al Gore. Mexico's economy is too small (Mexico's GDP is only 4 percent of U.S. GDP) to have as enormous an effect on the U.S. economy and labor market as the two speakers implied...
...goes this way. Even if Clinton's original budget package had passed unchanged, by 1997 the deficit would be just $140 billion lower than what it otherwise would have been. After that it would rise again rapidly, reaching $465 billion by 2004, about 4.6% of that year's projected GDP. The President's deficit-reduction plan fell short because its main element was a tax increase on a sliver of American households -- the 1.2% earning about $180,000 or more...
...economy does give signs of crawling into the light. The Commerce Department reported last week that GDP grew in the third quarter at an annual rate of 2.8% -- up from 1.9% in the second. But that gathering speed is precisely why now is the time to make cuts, says economist Rudy Penner, a former CBO director. "The economy is growing. If we don't do it now, then after a while the only way we'll be able to pay the debt is to print money...
Kuttner does not even see fit to mention that Clinton's proposed universal health care entitlement may, perhaps, threaten the Congressional Budget Office's projection that the budget deficit will decline from 4.3 percent to 2.5 percent of the GDP...
...generally hateful politicians. They are seen as unemployable swallowers of social services--worse than their illegal counterparts who do not rely on such programs. This image is completely fallacious. Legal immigrants are very likely to be self-employed, and often start businesses that employ others and contribute to GDP. They do not consume national social services disproportionately or contribute to the "free-rider" problem in the welfare system...