Question by gws35: Want to see what the USA will look like when 0bama bankrupts us?
Then look at Greece:
As Greek Bond Rates Soar, the Specter of Bankruptcy Looms
Greece is virtually a Mini-Me of the USA: a debtor nation saddled with a persistent trade deficit and extravagant social programs that are bankrupting the country.
Meanwhile, Germany has equally generous social programs, but they are being viewed as the likely source to bail out Greece.
Why is Germany so different? Because Germany has a persistent trade surplus. That’s why they can afford to be a creditor nation while also paying for the luxury of generous social programs.
The only way Greece could turn around is for Greece to cut imports and boost exports, to stop the flow of money out of the country for imports, and to bring in more money on exports.
Should the USA wait until we’re on the brink of bankruptcy before we take similar steps?
Or will we simply let Walmart continue to soak up our economy like a sponge, until the recipients of government money start having mass protest demonstrations when their government check gets cut off, as is happening in Greece?
Answer by Mark F
If only you had shown any concern at all when Bush was bankrupting us.
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