In fact, I have a vision that when the G20 meets later in the month in Seoul, that the world needs a new balance between deficit countries and surplus countries, and that balance has to be restored by paying more attention to the development -- of the development potential, including infrastructure development and energy infrastructure agricultural infrastructure in the poorer countries of the world.
In early October the Treasury released a pre-election economic and fiscal update indicating that after 14 years in surplus the budget balance was set to slip into deficit.
But I also voiced to President Obama Brazil's concern regarding the monetary expansion policies that ultimately mean that countries that have a surplus be able to strike a balance in those economic monetary expansion policies through fiscal policies that are ultimately based on expanding investments.
They say U.S. policymakers will need to lift taxes and cut spending tobalance the federal budget, which has swung from a surplus of 2.5 percent of gross domestic product (GDP) in 2000 to a deficit of just under 4 percent in 2003.