Snow Touts Economy; Treasury Secretary Downplays Trade, Budget Deficits

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WASHINGTON (AP) - Preparing for a meeting of its major economic allies, the Bush administration insisted Thursday that America's record trade and budget deficits were not a threat to the global economy and predicted that U.S. job-creation troubles were nearing an end.

Treasury Secretary John Snow struck on upbeat tone a day before he and Federal Reserve Chairman Alan Greenspan host a meeting of the Group of Seven major industrial nations. He said the U.S. economy is in far better shape than it was a year ago when analysts were worried that growth was so weak the United States might topple back into a double-dip recession.

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Snow Touts Economy; Treasury Secretary Downplays Trade, Budget Deficits

"We're on a very solid footing, our upward trend is strong," Snow said, ticking off a number of healthy economic signs from strong GDP growth to rising exports and the creation of 308,000 payroll ...

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