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Washington had already defaulted on its loans by allowing the dollar to weaken against other currencies -- eroding the wealth of creditors including China, Guan said.
So you think its ok to continue to spend spend spend, as long as you can find a creditor foolish enough to give you money?
You think Obama had NO impact on us reaching that debt ceiling?
What you people don't get is that we've already spent what we don't have over the course of the past 10 years. These are already outstanding debts that we need to be making payments on that we will not be able to unless we increase our spending flexibility.
What you people don't get is that we've already spent what we don't have over the course of the past 10 years. These are already outstanding debts that we need to be making payments on that we will not be able to unless we increase our spending flexibility.
Increase spending flexibility- we can do that by cutting back in other areas for now.
Why is it European Governments have realized Austerity is the only way back to prosperity and America continues to swim in denial.
Don't know.... I'm ready to listen to plans that include more than just hacking apart entitlements though. Until the Republicans are willing to propose something more than a Conservative wish-list of things to axe that THEY don't like anyway, I won't be taking their proposals too seriously.
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