posted on Apr, 30 2009 @ 09:59 AM
reply to post by TheAssociate
No, this is what "tighten our belts" means:
"Our country is functionally insolvent. We're going to default on our debt before the end of the year. If you want to see what's it's like to live
in a bankrupt country, go look at Argentina. It makes Compton looks like Disneyland. The game is over, and this is a formal warning."
The very possible end-game is a 50% reduction in all government spending: social programs, infrastructure programs, military, etc.
We will be lucky if there is a "productive element of society" as we knew it just a few years ago.
Anybody who's worrying about tax rates
, on themselves or their children/grandchildren, is severely underestimating the current crisis.
[edit on 30-4-2009 by theWCH]