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This is what the US economy has been reduced to: McDonalds reports that as part of its employment event to hire 50,000 minimum wage, part-time (mostly) workers, subsequently raised to 62,000 it received a whopping 1 million applications, or a Tim Geithner jealousy inducing 6.2% hit rate (h/t X. Kurt. OSis). Alas, the US economy is now so pathetic that the bulk of the population will settle for anything. Literally anything.
Originally posted by babybunnies
The 22% "real unemployment" figure is a myth that GOP likes to perpetuate, that has been debunked many, many times.
Originally posted by freedomSlave
I always thought America was a 3rd world country that just relied heavily on credit
what was the national debt there as of late.... I hope that isn't compound interest ..
Originally posted by Wrabbit2000
reply to post by dogstar23
I can't fathom how anyone can see 25 TRILLION dollars in pure debt with over half a trillion due every year, after all the games are played to bring the Gross number down to the smaller net figure and in just 10 short years, as anything less than catastrophic.
By the way.....for what it matters, the White House 2013 budget projects the debt will be in excess of 100% of GDP (Which it now has been for a bit) as far out as their projection goes (2022). So....by their BEST estimates, we have no light at the end of this tunnel for even breaking even to say the number isn't growing any more. They've basically sold out our kids...and we're still trying to pretend it hasn't happened.
Originally posted by zero1020
Do you know what would fix this entire debt crisis? If the major players around the world agreed to forgive all debts and start the cycle again. Sure millions would lose their so called "valuables" but at least the world won't rip itself apart. After the shock is over people will be able to lend and borrow again to create businesses.
I've always wondered why we carry the debt of previous generations on our shoulders.