Bush acknowledges the collapsing US economy
Date: Sunday, August 14, 2005 @ 11:03:28 UTC
Topic: General
08/12/2005 14:23 - english.pravda.ru The US administration aims to spend $286 billion on the development of the American transport system
US President George W. Bush released a remarkable statement a short time ago. The remark has not been highlighted in the world media yet, although there is every reason to do so. Bush virtually acknowledged that the USA was experiencing a serious economic crisis. Moreover, the US government was taking immense efforts to avoid a massive outbreak of social uneasiness, the American president believes.
One may come to this conclusion from the newly-signed law about the development of the US transport system. The implementation of the law will cost tax-payers too much money. The US government plans to spend $286 billion on the implementation of the law during the forthcoming six years. Furthermore, Bush had to cut the costs of the law, which originally made up $400 billion. The US Treasury, however, will have to spend only $12.3 billion during ten years to guarantee the energy security and independence within the scope of the recently passed energy policy law. NASA's annual budget makes up $16 billion. Therefore, the sum of $400 billion makes a huge sum of money even from the point of view of American financial standards.
Read the whole article here: http://english.pravda.ru/world/20/91/368/15972_economy.html
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