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The World Is Watching

US Politics & Gov't  (tags: americans, business, consumers, corporate, corruption, cover-up, debt, economy, finance, money, politics, congress, democrats, spend, recession, debt )

- 3761 days ago -
Outcry against budget heard around the world...


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Edward H (45)
Sunday March 29, 2009, 10:33 am
Bankrupting the nation...plain and simple...

Kit B (276)
Sunday March 29, 2009, 11:03 am
Well then the world is becoming bankrupt, and all the 'developed' nations are following the path. Why are they doing this? Because to do nothing or to simply reduce taxes on the rich and hope that will lead to reinvestment has not worked, not in past economic crisis not in this one. This is not an issue for left or right, republican or democrat, it's far too grave for party allegiance. This is an issue that should it not be addressed promptly and aggressively could actually lead to the complete collapse of internal structures. I'm not saying that we can't have some banks collapse, they have before they can again. But reading a number of article from papers outside of the US I see far too many nations suffering the same problems and with governments taking the same actions. The current imbalance of wealth in this country is not because of group of honest hard working individuals that earned that money, not at all. This massive deregulation has lead us into a situation of gross incompetence and yes, greed. When the gross balance of the economy favors only the few then it is inevitable that an inverted collapse will occur. Indeed, each president that has faced this kind of catastrophic economic challenge has taken drastic measures to attempt to reverse the situation. I would refer you to the steps the Reagan found necessary in the late 80s, this extreme measure didn't destroy our country, but more and more deregulation has caused exactly the problems that were foreseen.

Should we be wise enough to bring about a true tax reformation, one that allows for strong financial stability in the government coffers and spendable income for the citizenry then we need not be as concerned about the current financial deficits. That's why I strongly advocate for the Fair Tax. Allow the citizens to spend the money they earn and the government will have more then sufficient funds to pay down the deficit balances within a few years. As to size of government - each president, all of them in the last 60 some years have double the size of government personal protestations aside, our government now employs almost half of all working Americans.

Past Member (0)
Sunday March 29, 2009, 12:47 pm
Confusing indeed. How did this discussion go from questioning the greatest expansion in government that this nation has ever seen, including national health care, to fair tax? Rational people see the need for effective government stimulus. What is being discussed is whether we want to also expand government to the point that we will bankrupt ourselves not to mention our children and grandchildren. Our health care system is in shambles. One can certainly debate solutions and be willing to listen to those who's countries have tried to implement remedies. Again, is fair tax the answer to all of this? I happen to think that we need a tax overhall in one form or the other. But, let's stick to the discussion at hand.

. (0)
Sunday March 29, 2009, 4:54 pm
I hope fervently that what the government is doing will actually help. I have serious doubts and think it's even more likely we're headed down the road to complete financial collapse and a massive depression that will make the 1930's look like a mere preview of coming attractions. I hope I'm wrong.

Jessica Robinson (210)
Sunday March 29, 2009, 7:17 pm
Scary situation and I hope both America and the Europe start to wake up soon!

Stan B (123)
Monday March 30, 2009, 1:45 am
Perhaps I'm being a little naive but I firmly believe the current global financial crisis has been caused by our planet saying " enough is enough"
This could be our last opportunity to get things right and to stop consuming the limited resources we have left.

Kit B (276)
Monday March 30, 2009, 6:52 am
You know Stan, there is something to be said for that. We as Americans have and continue to abuse the resources of this planet. The current attitude that is expected at the G20 is probably enviable, we mock other countries, and yet eagerly consume their resources, whether it be oil or many other natural minerals. So they are ready to bite back - nothing surprising there.

And yes Lindsey, it is a frighting scenario; either total success or complete failure. Some how I think the reality lies between. It took nearly 30 years of failed economic 'gamesmanship' to bring us to this point, I really doubt 'the sun will come out tomorrow'. In time and with changes as to how we negotiate these dangerous waters, we will come out of this, it may however, require a slightly different view of the way we have done business in our recent history. Why do we coddle the banks and sternly wag fingers at the auto companies? Oh yes, the problem is those greedy workers and not the upstanding bankers. Time to RETHINK many things. It's not a liberal or so called conservative view it's one of realism that's needed.
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