Some bad news with possibly unpleasant connotations.

Greenspan warns of budget gap risks, and U.S. trade deficit swells to new high. Import surge pushes current account deficit to $130 billion for quarter.

Now, if the Middle East “goes up”, the US will be in an even bigger “spend and borrow” mode, interest rates will climb severely, and oil prices will skyrocket. The US economy may have a very, very rough time with trouble in River City and all the cities and states around it. “From sea to shining sea”, so to speak.

We won’t have to worry about emissions controls, we’ll have to worry about having something to burn which emits. Dollar bills might be cheaper to burn.

(While the US does not get all it’s oil from the Middle East, it is a world market, and the price anywhere affects the price everywhere. Maybe this is GWBs way of getting ANWR.)

Arf