As he met with Italian Prime Minister Silvio Berlusconi, President Bush pledged that the US has "a strong-dollar policy" and he pledged that he will bring the issue to Congress for resolution. He hopes Congress can lower the country's deficit.
This announcement comes after the US reported October saw a record $55.5 billion trade deficit. US manufacturers have benefited from this because it makes their products cheaper to buy abroad. Bush hopes people will buy dollars if deficits fall.
Recent steps taken by the US include another hike in interest rates and proposals by Bush to reform Social Security. Bush hopes that privatizing part of it will help lower the deficit. His plan involves investment accounts for younger workers.
