The US economy concerns me, especially the deficit. It is so large I think people tune out and just assume the US is so big it can always turn it around. But to put things into context the US deficit as a percentage of government revenue is even larger than the NZ surplus, and that is huge!
Our current surplus is around 13% of government revenue. The US deficit is $521 billion and their income is $2.04 trillion which is a deficit to revenue of 25.6%. NZ just before Ruth saved us was facing a deficit of $5 billion which was around 17% of crown revenue, and look what it took to recover from that.
The US public debt as of yesterday is US$7,601,016,892,663.19 which is around three years expenditure.
If Kerry had campaigned on the economy, instead of Iraq, even he would have won the election easily. His problem was he reacted to the hard core activist faction of the left.
While Bush has done a few good things economically, the fact the US has dropped to 12th= on the list of most free economies speaks for itself.