With both sides sticking to deeply entrenched positions, the night of competing messages signaled continued partisan division and political showdowns in Washington over the federal budget and further steps to reduce the deficit and national debt.
Venezuela's GDP increased 10.3 percent in 2006, experts expect a slowdown of growth to 7.8 percent this year and 6.6 percent in 2008.11 A further decline in Venezuela's impressive economic growth would furtherreduce tax revenues, and subsequently create a larger budget deficit.