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|When Bush came to office in 2001, the 10-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 9/11on the economy, the surplus has evaporated, and the deficit is expected to grow to $ 5-trillion over the next decade. The domestic deficit is only the half of it. 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 the drea...|
|With insight and refreshing candor, Peter G. Peterson describes his remarkable life story beginning in Kearney, Nebraska as an eight-year-old manning the cash register at his father's Greek diner through his Mad Men advertising days, to Secretary of Commerce in Nixon's paranoid White House, to the tumultuous days of Lehman Brothers, and to the creation of The Blackstone Group, one of the great financial enterprises in recent times.In THE EDUCATION OF AN AMERICAN DREAMER, Peterson chronicles the progress of this journey with irony, humor and, sometimes, painful honesty. Within these pag...|
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