Want to see what the USA will look like when 0bama bankrupts us?
Question by gws35: Want to see what the USA will look like when 0bama bankrupts us?
Then look at Greece:
http://www.nytimes.com/2010/04/09/business/global/09drachma.html
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?
Best answer:
Answer by Mark F
If only you had shown any concern at all when Bush was bankrupting us.
Know better? Leave your own answer in the comments!
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July 29th, 2012 at 11:14 pm
It will take new leadership.
July 29th, 2012 at 11:54 pm
New account? Better hurry up and block me! LOL.
Retailers reported their strongest monthly sales growth in a decade, with gains in virtually every category of merchandise and every type of store. They posted a 9.1 percent sales increase, their strongest monthly sales growth in a decade.
Employers added 162,000 jobs last month, and employment numbers in the previous two months were revised upward.
http://26.media.tumblr.com/tumblr_kxfgdhngiP1qz4udmo1_500.jpg
IHS Global Insight says the economy has about 1.7 million more jobs today than it would have had without the stimulus.
GDP growth is a POSITIVE 5.6% (the highest growth in 6 years), after falling to NEGATIVE 6.4% under Bush.
The Conference Board Index of Leading Economic Indicators is up for the ELEVENTH consecutive month.
The manufacturing sector expanded in March at its strongest pace since July 2004. The Institute for Supply Management, a trade group of purchasing executives, said that its gauge of industrial companies rose to 59.6 in March from 56.5 in February. It is the EIGHTH straight month of expansion.
The Institute for Supply Management’s non-manufacturing barometer rose to 55.4 in March, up from 53 in February, exceeding expectations. Much of the momentum came from a surge in new orders and business activity. It was the highest reading for the survey since May 2006. Exports also rose significantly.
July 30th, 2012 at 12:36 am
… The article you posted draws different conclusions from what you wrote here. It appears one of Greece’s big problems is it hasn’t raised taxes. Who’s against our raising taxes? Oh yeah, the Republicans. And we need to raise them to pay for GWB’s extravagant spending and these ridiculous wars we’re continuing.
July 30th, 2012 at 1:03 am
Connies make me laugh.
July 30th, 2012 at 1:08 am
I think the whole point is to bankrupt us. It’s easier to control people when they are struggling for basic needs. Can’t you see it? Everytime we start to recover from the recession, 0bama pushes through something new to devastate us. Immigration deform is next. How exactly is adding 30 million to the welfare rolls going to help our economy? But 0bama says it has to be done RIGHT NOW.
July 30th, 2012 at 1:37 am
It is the republicans who have been trying to bankrupt America!
Bush and the republicans took us from a projected budget surplus and returned us to deficit spending!
Republicans yelled “protectionism” back in the early 80′s when American companies where asking for import restrictions!Guess what happened to that industrial base which made America the greatest nation on earth after WW2?
BTW—-Republicans betray America every time they deny Bush’s dereliction of duty!
July 30th, 2012 at 1:58 am
GERMANY IN THE 1920′S WOULD BE A LOT BETTER EXAMPLE. SINCE GREECE IS ON THE EURO IT CANNOT MONETIZE ITS DEBT WHICH GERMANY DID AND THE UNITED STATES IS DOING.
July 30th, 2012 at 2:50 am
That is what liberals want.
July 30th, 2012 at 3:02 am
You are blaming President Obama for something that has been going on since the Reagan Administration. We have destroyed manufacturing in this country at the prompting of companies like Wal Mart, who will never agree to reduce imports. Germany has successful export companies partly because of very strong labor unions with a say in corporate governance. They help keep German CEOs focused on business, instead of worrying about packing the board of directors with friends who will approve their outrageous salaries.
July 30th, 2012 at 4:01 am
First consider the past administration’s extravagant spending and failed programs.
Iraq alone cost a few billion dollars in real costs not just what they were willing to tell the public.
Thousands of Soldiers on VA Disability for life.Bush actually reduced their benefits until he was exposed for the fraud he is by 60 minutes and CNN.We are good enough to serve but not good enough to get proper medical or physical rehabilitation.
The bogus Medicare prescription plan. Medicare and seniors forced to pay non=competitive prices for their prescription medicine while the premiums increase and the level of care decreased.
No child left behind= A bad joke if you actually realize how far it set back our education system.
Just a few highlights from the man who could barely speak English and barely graduate college(of course someone probably did the work for him). The entire free world looked down on the USA for the first time in history and now that is not the case.