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Economy: Tough Times / A Discussion #887760

ABC Evening News for Thursday, Mar 13, 2008
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(Studio: George Stephanopoulos) The tough times for the economy introduced.

(Studio: Betsy Stark) The ominous signs for the economy examined; statistics on the falling dollar, the price of gold, the rate of foreclosures and retail sales cited; details given about how Carlyle Capital has become a casualty of the mortgage mess and of the unraveling of a long economic boom. [Wachovia economist Mark VITNER†- comments on the economy.] [Harvard University economist professor Kenneth ROGOFF†- says well-run financial institutions are running into trouble.]

(Studio: George Stephanopoulos) Live discussion held with Harvard professor Lawrence Summers and RNC Victory Program Carly Fiorina about the economy. [SUMMERS - says the Fed and the government will take measures; states a lot more can be done by the administration to deal with the credit crunch.] [FIORINA - says the Fed will cut rates and government help has been a good thing; states the implications of the weak dollar.]

(Studio: George Stephanopoulos) The IRS view that the cost of economic stimulus will be driven up due to answering phone calls about rebate checks noted.

Stephanopoulos, George;
Stark, Betsy

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