<description>&lt;p&gt;The economy will be the first challenge facing the new president when his term starts in January.&lt;/p&gt;&lt;p&gt;This archive edition of Letter from America was recorded by one of two listeners, who between them taped and labelled over 650 Letter From America programmes from 1973 to 1989. It was restored by the BBC in 2014.&lt;/p&gt;</description>

Greenspan warns that Bush will face economic woe.

<p>The economy will be the first challenge facing the new president when his term starts in January.</p><p>This archive edition of Letter from America was recorded by one of two listeners, who between them taped and labelled over 650 Letter From America programmes from 1973 to 1989. It was restored by the BBC in 2014.</p>

Letter from America by Alistair Cooke: The Reagan Years (1981-1988)

Fears over US deficit

Fears over US deficit

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