posted on Sep, 26 2008 @ 05:15 PM
Originally posted by mecheng
reply to post by Wise Dome
I have to disagree...
One dollar is TOO MUCH!!!
The fact is, we have a 13 trillion dollar GDP and we shouldn't be in this mess. This is truly absurd.
The problem is the Behemoth in Washington. It's not just homeowners with bad loans, it's politicians with no morals.
They spend like crazy. They have the best of everything and we pay for it.
Bush borrowed more money than all the Presidents combined.
According to the Treasury Department, from 1776-2000, the first 224 years of U.S. history, 42 U.S. presidents borrowed a combined $1.01 trillion from
foreign governments and financial institutions, but in the past four years alone, the Bush administration borrowed $1.05 trillion.
You can't borrow like crazy and spend like crazy.
In a global economy, the people in this country will be able to borrow money because foreign countries want us to buy their good because we have a 13
trillion dollar GDP.
When you cut taxes, you increase savings and investment and money is easy to borrow. This is supposed to happen. When a sector of the economy takes
a downturn, there's no available capital because of that huge sucking sound coming out of Washington.
There's just no way that we are supposed to be going through this with a 13 trillion dollar GDP. Government is to blame because we now have over a 9
trillion dollar debt. This is the real problem.
These people spend tax payer money like it's no tomorrow and it has to stop. Bush needs to come in front of the people and explain how we are 9
trillion dollars in the hole and when he entered office we had a projected surplus.
[edit on 26-9-2008 by Wise Dome]