US deficit control gets 'lost' in translation

[emad]

US deficit control gets 'lost' in translation
From Gary Duncan In Washington



IRRITATED American officials yesterday sought to play down claims that Alan Greenspan had said Washington had “lost control” of its budget deficit.

Thierry Breton, France’s Finance Minister, speaking to reporters in Washington, made the claim after a closed-door meeting with Mr Greenspan, the Federal Reserve Chairman, and John Snow, the US Treasury Secretary.

“ ‘We have lost control’, that was his expression,” M Breton said as he outlined the Fed Chairman’s private comments.

A senior US official suggested the French minister must have misunderstood Mr Greenspan’s remarks. “Things can get lost in translation,” the official said.

The US Treasury also rejected any suggestion that the deficit was out of control. “This administration is absolutely committed to the President’s goal of halving the deficit as a percentage of GDP by 2009 and we have every expectation of meeting that goal,” a spokesman said.
http://www.timesonline.co.uk/newspaper/0,,170-1797751,00.html

[wtbymark]

1. Naw, it IS out of control

just like the rest of chimpy's business'

[Toots]

2. When "Reagan proved Deficits don't matter" as Cheney claims, why would

they have any concern what-so-ever?