Keith, Merrill Lynch downgraded its GDP growth forecast for next year from 3.8 to 3.3 percent, taking into consideration what a quick war and minimal disruption from higher oil prices would do to the US economy.
Salomon Smith Barney cut its projected GDP growth of 2.7 percent for next year, rather than the 3.4 percent it previously forecast. Everyone seems to be confident that vigorous growth is going to happen, but it keeps getting pushed further into the future, rather than the next quarter, or one after that, based on all the uncertainty we are experiencing - and the uncertainty of what we will be doing in the near future. That alone would be good reason for the persistent claim that taking out Hussein would be a piece of cake, short expenditure, minimal risk. Karen
