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Are we following China's lead? Are they following ours? Either way you look at it, when reading the article it appears we are pretty much walking side-by-side in the same footsteps as China in many economic respects. However, I don't see where they are pushing for actions to control CO2.
Also, wonder if their loans will blow up in their face like our housing loans did?
Neither, China is simply spending money they already have, they can easily spent to stimulate the economy without any long term consequences, complete opposite of our stimulus packages..
Neither, China is simply spending money they already have, they can easily spent to stimulate the economy without any long term consequences, complete opposite of our stimulus packages..
Plus their infrastructure improvements produce real stimulus where ours are only incremental improvements. It's not like we are building roads where there were none before.
Neither, China is simply spending money they already have, they can easily spent to stimulate the economy without any long term consequences, complete opposite of our stimulus packages..
Good point.
We are spending money we don't already have.
The CBO projects if Obama/WH's budget goes as they want, we will have a cumulative deficit of almost $9.3 trillion over the next 10 years.
Good point.
We are spending money we don't already have.
The CBO projects if Obama/WH's budget goes as they want, we will have a cumulative deficit of almost $9.3 trillion over the next 10 years.
And somewhere around here is floating a link that the White House chief financial officer acknowledges that if the CBO's projections are correct, we are bankrupt. (unlike China)..
The scary part, the CBO and White Houses budgets are only 5% apart.
When China decides that our currency is not an acceptable risk, we might as well close up the shop known as America. The big question will be what do we call ourselves? Northern Mexico or Southern Canada? With trillions in projected debt and 40-50% of the population not paying taxes, we're doomed.
I don't blame Obama for ALL the mess, but his big spending ways aren't exactly encouraging for the future.
When China decides that our currency is not an acceptable risk, we might as well close up the shop known as America. The big question will be what do we call ourselves? Northern Mexico or Southern Canada? With trillions in projected debt and 40-50% of the population not paying taxes, we're doomed.
I don't blame Obama for ALL the mess, but his big spending ways aren't exactly encouraging for the future.
Very scary!!
Agree, the problems started before Obama (in many ways even before Bush ie regs sets, etc.) but now throwing piles of money we don't have onto the fire....
I keep trying to see the other side but I just don't get it:
* I wonder why thousands of other Americans don't see all this spending as a problem. When I talk to people, many say we need the spending to help the economy so they are all in support of the spending. But, they are not concerned about who is going to pay for it.
* I can't help but wonder if the govt had NOT taken all the actions they did (TARP, stimulus, voting the bonus in the stimulus then taxing it, coercing the GM CEO to quit, the "war on business", etc.) -- I can't help but wonder if they had not taken those actions if we would be where we are. Govt actions have made many business people skittish. Would things have not gotten so bad if govt had not taken certain actions? Banks are wanting to give back Fed $$ - if they were so crippled - how can they already pay back the money? Why is the govt not allowing them to pay it back?
* On this site and in other arena's - if you are opposed to the spending, Obama/WH policies, etc. then you are attacked and called a racist or whatever. I don't get it. Why isn't everyone concerned about the spending?
Not sure if this is entirely on topic, but I watched something on the CBC about America's crushing medicare/medicaid costs that are projected to skyrocket and exceed GDP.
Not sure if this is entirely on topic, but I watched something on the CBC about America's crushing medicare/medicaid costs that are projected to skyrocket and exceed GDP.
Oh great. Exceed GDP - that is scary.
I think I want to go back to buying my head in the sand along with the, dare I say, majority of Americans.
Oh great. Exceed GDP - that is scary.
I think I want to go back to buying my head in the sand along with the, dare I say, majority of Americans.
Well this is the CBC, so it was a foreign documentary (Canadian). However, it shouldn't be dismissed on that premise alone. It went into how Bush signed a medicaid bill that is costing the american taxpayers loads because of the greying population, excess use of name brand prescriptions that are very expensive and are covered by taxpayers and I believe they said by 2050 if not changed, will exceed GDP costs.
In a sense, it would be in everyone's best interest financially to take care of their health in the here and now. Its tough to eat well, exercise and live right and manage your stress, but if you don't it'll end up emptying the public coffers.
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