The United States is bankrupt for years. Yet, the world and exporting countries like China, Japan, Germany, UK, Italy, Canada, Mexiko, Brazil, Russia etc. cannot allow that the US is being sent into the woods. Why? Take a look at foreign Treasury Bond holdings. Crisis in the US = worldwide crisis. That´s why the ponzi scheme is still working. New markets need to be developped. Tunesia, Egypt, Lybia = all new markets for export hungry countries. While Lybia still has a possible "hard currency" = i.e. oil, it might become a different story if Collonell Ghadaffi goes apesh1t and descides to destroy production facilities.
market-ticker is saying Social Security got screwed on Friday! Comments Mr. Breen? http://market-ticker.org/cgi-ticker/akcs-www?post=189249 -gastropod
You people don't get it. The US isn't bankrupt. The Banks are. On a side note, this recent bailout in Greece is not a bailout of Greece. It is a bailout of European banks.
It started in 1980, when taxes for the rich were lowered, lowring taxtation, while not lowering spending. At the helm of... drumroll.... a re-thug-lican!
The Bush tax cut was enacted to spend down the surplus that Clinton had accumulated - it should not have been extended. Now no new taxes has become theological dogma among Republicans who zombie like take their orders and perform an oath to Grover Norquist. The deficit could be elimated if everyone paid their fair share. Please don't tell me that the rich and Corp's "create jobs" with the marginal income. The tax trate was over 50% under Eisenhower.
What we look back on now as the Golden Age of the US economy occurred with extremely high marginal income tax and corporate tax rates. That should be a rather obvious clue that economic growth and tax rates have a relationship considerably more complex than what ideologues allow for.
shut up. we re-thug-licans don't like statistics, just hyperbole. TAXES on hardworking rich people is communist!