Countries with deficit don't want to pay the bill, and they want to get more loans, and countries with superiority, they don't want to help the countries with problems, and they just want them to tighten their belts.
Sentiment: NEGATIVE
The problem is that the U.S. government is the biggest debtor in the world, and those depending on it to take care of them will only become poorer.
There's a stability and growth pact which was agreed for the eleven countries which tries to limit the size of budget deficits among the eleven countries.
Essentially, when we run a deficit, we are borrowing money to buy things that are made overseas.
Well, a deficit reflects an imbalance between spending and revenue, and so narrowing it requires acting on one, the other or both.
But because we in the United States finance our current account deficit by borrowing in our own currency, we can move to a more competitive dollar without the adverse effects that followed currency declines in other countries.
America knows it has got to deal with its deficit problems so that it, too, can promise it is making its proper and best contributions to the world economy.
The American people will eventually get hurt by this accumulated deficit. That's the problem. We have too much deficit. We have to find a solution.
The debt limits have to come down. The whole world of debt has to be changed as far as this country is concerned. We have to create jobs and we have to create them rapidly because if we don't things are just going to head in a direction that's going to be almost impossible to recover from.
The deficit - the U.S. knows our deficit is too large. We are committed to bringing it down. We are bringing it down. The deficit came in for fiscal year '05 at considerably below where it was the prior year.
I mean, the world has already done a big, big effort to forget debt to countries heavily indebted and with low income. And that has given good chances to countries to get out of poverty.