Running on Empty

How the Democratic and Republican Parties Are Bankrupting Our Future and What Americans Can Do About It

Edición de la obra Running On Empty

"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.