07/18/2005

Deficit Diminished

Hello:

According to the Office of Budget and Management, the federal deficit has been reduced from the initial estimate of $427 billion to $333 billion. With the growing economy, the deficit is now down to 2.7% of gross domestic product (GDP). This number is nearing the average deficit the past forty years of 2.3% of GDP.

Is your organization using the lazy, hazy days of summer to review its written investment policy statement? Please feel free to contact us to see if we may be of assistance.

Terri G. Millson, CIMC President

Ray Dicius, CSA, GEPC LPL Branch Manager