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.

First sentence: When the towers fell, I was out of town attending a corporate board meeting (which promptly adjourned) and spent the rest of the day watching cable news and trying to call my wife and family in Manhattan.

Year

2004

Language

English

Publisher

Farrar, Straus and Giroux

Editions

8

Pages

239

ISBN

9780965682428

Data source: Wikidata