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...accord is expected to spur new exports for American firms while adding little in the way of foreign competition that U.S. products do not already face. Carla Hills, U.S. Trade ! Representative, estimates that a successful Uruguay Round (so named for the talks' original venue) would generate an additional $5 trillion in world output over the next decade, of which the American share would be a hefty $1.1 trillion. It's "like writing a check," explains Hills, "to every American family of four for $17,000, payable over 10 years...
...documents like Agenda 21 -- such as commitments to mass transit and energy efficiency -- could ultimately improve Americans' standard of living. A recent study coordinated by the Union of Concerned Scientists contends that slashing CO2 emissions by 70% over the next 40 years would cost the U.S. economy $2.7 trillion, but would trim fuel and utility bills by $5 trillion. Reducing waste and pollution will take fundamental changes in the American economy, but, says the U.N.'s Maurice Strong, secretary-general of the Earth Summit, "the U.S. hasn't yet realized the economic consequences of not making those changes...
Cheap cash also allowed Japanese companies to fund costly research into technologies like semiconductors and liquid crystal displays that weren't likely to bring returns for many years to come. From 1986 to 1991, $3 trillion was spent on new plant and equipment, including robotics and other labor- saving manufacturing devices. An additional $600 billion went for research and development. And $167 billion more went abroad to build new manufacturing facilities and purchase such assets as Rockefeller Center, Columbia Pictures and automobile plants in the U.S. and England. But by 1989 there was concern in Japan that this real estate...
...economy: The government has piled up its two largest deficits ever on bush's watch : $269 billion in fiscal 1991 and an estimated $399 billion for fiscal 1992. The national debt will stand at nearly $4.6 trillion at the end of Bush's firs term. Bush also allowed taxes to be raised, defying his own no-new-taxes campaign pledge...
...Jesse Helms (R-N. C.), the sole dissenter, assailed the program's cost, estimated at $18 billion in fiscal ,1993, as the national debt nears $4 trillion...