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Plenty of repubs, along with the dems, voted for the theft packages. Blame the ones who voted for the manipulation of the economy when they thought it would be a good idea to make housing available to people unable to pay.
Dems are in charge over record debt, dems are in charge as we expand our military in the Middle East.
Maybe their 2012 slogan should be "Democrats the new Republicans"
Unfortunately, insolvency is our best option at this time. $5.8 trillion in addition debt over 4 years. That was great! Now we have Obama trying to load on additiona debt for the 2012 budget.
Yes in 2006 when the Democrats were voted into congress they blew the lid off the debt when they took control January 2007. Now $4 Trillion of new debt since Obama was elected POTUS.
Just look what happened to the employment ratio since the Democrats took power in January 2007.
U.S. states' fiscal problems may be worse than European countries such as Greece and Portugal. While the states debt to GDP ratios are not nearly as elevated as those of European sovereigns, and they aren't as likely to default, their finances look worse based on other metrics.
When looking at budget deficits to revenues, both Illinois and New Jersey are in worse shape than even Greece and Portugal, but not as bad as Ireland. When examining the ratio of how much money certain states need to borrow vs. their outstanding debt, Illinois and Pennsylvania far outpace Spain, Portugal, and Greece - not a good sign. This could become a particularly severe problem if interest rates rise too fast and states are unable to sell debt.
As a result of the fiscal problems being encountered by states such as Illinois, California and New Jersey, many states are facing significant spending cuts and some analysts believe that it is just a matter of time before a wave of defaults hit municipal bonds. Investors have been pulling out of municipal bonds in droves, which in turn, drives up interest rates in the space.
As senator, Obama left Illinois in shambles. Now as president Obama's budget is doing the same to the USA. This new budget disaster will eventually send commodities to new highs.
They are waiting for the morbid obese dumbed down citizens to put down their milk shakes, get up off their bean-bag chairs, turn off their gigantic television sets, and stampede down the streets of D.C. protesting the duplicity. Oh wait. That will never happen: everyone is too obtuse and corpulent.
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