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Listening to the arguments about public employees in Wisconsin and a lot of other places around the US, plus at a nationals level, makes me wonder if we just don't realize that our economy could simply collapse at any moment after our GDP is exceeded by spending. I have no idea if the US will go the same route as Greece where the national spending reached 180% over the GDP, but the present rate of US spending can't be sustained very long. Federal, state and local debt hits post-WWII levels
It's not my intention to start an argument about overspending and blaming one side over another. I am just somewhat alarmed by how much we spend, while completely ignoring where the money is coming from.
Without a private workforce, the public workforce can't exist as long as we have in the US, because it's the private sector that has provided the money in the form of taxes to pay for all sectors of our economy. The more jobs that are lost in the private sector, the less money there is for the rest.
In my view we should be actively involved in nuclear power production, mining, and oil production on US soil and waters, specially now that the Middle East is going through a revolt. Well, we should have been preparing for the future years ago to avoid getting caught with our pants down lake we have today. Oil holds gains after spike on Libya violence | Reuters
A reasonable president would have done just that rather than all the porkulus and bailout spendings. Yes, that actually would have created jobs. But, the goal of Obama is bring America down to parity with the rest of the world.
Yes. If I hear one more comparison between a household or small business and the U.S. economy I will blow chunks. The British right wing has taken over the government and are bringing on the austerity like there is no tomorrow. The U.K. GDP has fallen 2% in a single quarter contrary to right wing assurances. Tax the rich, spend it on the poor and needy. No one needs a billion dollars. No one. But if you are going to let individuals amass fortunes in excess of a billion dollars you completely lose the moral justification to criticize social programs and spending.
Ray I don't get why you start at the bottom of the food chain to start making budget cuts. Why didn't we start in military contract spending? Why are military bases all over the planet? Libertarians have some strong points worthy of consideration but it's a sacred cow?
I have to ask myself why this policy of perpetually ignoring the trade deficit has gone on deaf ears. We are the globes customer until we run out of money, which apparently is the real point of global trade. Drain all of western civilization of resources vs a healthy symbiotic relationship it was sold as. That's not how it's played out and you ignore that wholesale. Why? Once NAFTA is in, it's etched in stone? Of course it's impossible to go backwards in time to a full scale protectionist policy that had a huge down side. Can we look again about the babies that got thrown out with bathwater there?
American companies and workers are not going to be able to compete with 3rd world wages without getting dragged down into 3rd world. Time for fiscal restraint- absolutely. Time for investment into a better future too. That's not about to happen by shooting at the mailman because he has a job.
Ray I don't get why you start at the bottom of the food chain to start making budget cuts. Why didn't we start in military contract spending? Why are military bases all over the planet? Libertarians have some strong points worthy of consideration but it's a sacred cow?
I have to ask myself why this policy of perpetually ignoring the trade deficit has gone on deaf ears. We are the globes customer until we run out of money, which apparently is the real point of global trade. Drain all of western civilization of resources vs a healthy symbiotic relationship it was sold as. That's not how it's played out and you ignore that wholesale. Why? Once NAFTA is in, it's etched in stone? Of course it's impossible to go backwards in time to a full scale protectionist policy that had a huge down side. Can we look again about the babies that got thrown out with bathwater there?
American companies and workers are not going to be able to compete with 3rd world wages without getting dragged down into 3rd world. Time for fiscal restraint- absolutely. Time for investment into a better future too. That's not about to happen by shooting at the mailman because he has a job.
Good points about military contracts and such. But we can't survive very long at the present rate of spending, not only on military contracts but on everything else. For example, the same corporations that benefited from the bailouts are now benefiting just the same from all kinds of contracts. Just look at the "green technology" our President is speaking about, and you will notice that GE and numerous companies are are being awarded the contracts.
The problem we have at the moment is a lack of jobs, and the Federal government is not allowing for oil exploration and production. For example, the moratorium on drilling at the Golf Coast imposed by the Obama administration hasn't been lifted. The same for several areas in Alaska, and the rest of the US. Also, for at least twenty years or more, oil refineries haven't been built (if I well remember). The same for new generation nuclear power plants. By the time we resume drilling for oil, building nuclear plants, and building cleaner coal-burning power plants, years will passed us by, and we will be paying up our noses for heating fuel, gasoline, propane, natural gas, and the rest. Worst of all, a lot of us won't have jobs to pay for anything.
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