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(Studio: Bob Schieffer) Background to concern about runaway deficit spending examined. [Senator Ernest HOLLINGS, Daiwa Securities William BRACHFIELD - talk about Treasury bill rates and sales.] [International Institution of Economics C. Fred BERGSTEN - says United States is not master of its own fate now.] [Former Congressional Budget Office director Rudolf PENNER - talks about political and economic considerations.] Upcoming budget talks between Congress and President Bush noted. [HOLLINGS - says neither side wants to say "taxes."] [BRACHFIELD - says government has to deal with problem.] Future impact of political decisions on financial markets predicted.
- Schieffer, Bob
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