"Canuck57" wrote in message
...
On 23/04/2010 6:28 PM, bpuharic wrote:
On Fri, 23 Apr 2010 17:12:51 -0700, "Bill McKee"
wrote:



Nom=de=Plume


We were overspending voraciously before Obama got in. And he has kicked
up
the spending 2-3x.

for good economic reasons as opposed to bush who just killed 4400 US
troops and spent money on tax cuts for the rich

how did the rich use their money? did they give wage increases to the
middle class?

nope the middle class hasnt had a pay increase in 10 y ears.

did they create jobs? nope. no jobs created in 10 years.

what did they do? well...in the last 10 years, the richest 1% have
seen their incomes triple.

They are forecasting trillion dollar deficits for the
next 10 years/ How is this all Bush II's fault?

yeah it is. we have to spend what's needed to get out of the free
market hole we've dug ourselves into.


How about cutting spending
to GM.

peanuts

Actually, I agree. GM is peanuts really. What is $200 billion in defunct
debt and bailouts to $14.5 trillion anyways?

At some point government is going to have to downsize to at least 1/2 of
what it is today, maybe less. Even if they pull off hyper-stagflation,
without the middle class incomes following or exceeding the inflation,
recovery of the debt spiral is not possible. In fact, it will get worse
as governemnt costs go up but the revenue does not. Real bad situation to
be in.

Sort of like a car heading to a brick wall at 150mph.

The USA isn't that far from Greece as you might think. For example, Japan
is much worse and their economy is failing too. When their debt defaults,
they might want some of the money they lent to the USA. And sovern debt
unwinds. Going to collapse liek a house of cards.

Wish our local banks offer Yuan accounts.
--
Socialism and statism are great as long as someone else pays for it.


Fortunately, you're not part of our society.

--
Nom=de=Plume