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Peter Morici

Professor, Smith School of Business, University of Maryland

Peter Morici is a professor at the Smith School of Business, University of Maryland, and former Chief Economist at the U.S. International Trade Commission.

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  • Morici: Downgrade US Treasurys to Junk Monday, 20 Dec 2010 | 11:15 AM ET

    With the new tax cuts, rating agencies should downgrade U.S. government debt to junk.

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    President Obama is convening a summit of CEOs at the White House, revealing a reelection strategy similar to Latin American leaders in the 1970s and 80s, when fiscal irresponsibility ultimately resulted in sovereign debt failures.

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    Friday, analysts expect the Commerce Department to report the deficit on international trade in goods and services was $44.0 billion in October or 3.6 percent of GDP. The trade deficit and crippled regional banks starve U.S. businesses of the customers and capital needed to create jobs and fire up growth.