Bush, Europeans to skirt a big issue:U.S. fiscal policy worries our allies

[Judi Lynn]

Feb. 19, 2005, 1:21AM

Bush, Europeans to skirt a big issue
U.S. fiscal policy worries our allies but is unlikely to be on the front burner
By BENNETT ROTH
Copyright 2005 Houston Chronicle Washington Bureau

WASHINGTON - When President Bush visited Brussels after first taking office four years ago he dropped by a chocolate shop, where he paid the equivalent of $33 for a box of Belgium's rich trademark treat.

As he starts his second term, Bush will fly to Brussels Sunday as part of a five-day European tour. But this time if the president develops a sweet tooth, that same box of chocolate could cost the equivalent of almost $50, a result of the 50 percent tumble the dollar has taken against the euro in recent years as anxiety grows abroad over U.S. fiscal policy.

Economic issues are expected to be on the back burner during Bush's trip to Belgium, Germany and the Slovak Republic. Instead, his primary focus will be mending rifts with traditional allies over security issues such as Iraq, Iran and the Middle East.

Nevertheless, in recent years Europeans have voiced concerns over Bush's fiscal policies, most notably his tax cuts, that they believe have contributed to a record budget deficit last year of $412 billion.
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http://www.chron.com/cs/CDA/ssistory.mpl/nation/3046903
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