The US is spending $4 billion a day more than it is taking in, putting the country on an unsustainable fiscal path perpetuated by both Democrats and Republicans, according to David Walker, head of the Comeback America Initiative.
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"We're not growing enough and we're not going to grow our way out of this problem," he said in a CNBC interview. "We would have to have double-digit real GDP growth for decades to grow our way out of this hole."
Walker's organization promotes fiscal stability and is warning that the US is trailing many other developed nations in terms of getting its fiscal policies in order. Comeback America is a conservative think tank funded mostly through a grant from the Peter G. Peterson Foundation, named for the founder the Blackstone Group private equity firm.
In fact, according to an index that Comeback America developed, the US is in worse shape from a fiscal standpoint than debt-plagued nations such as Italy or Spain, he said.
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ReplyDeleteDude, call me an asshole, but I was saying two years ago the US would default. What I didn't know was that the entire American continent would be being wiped clean of anything alive by radiation from Japan at the time.
ReplyDeleteCourse, I don't think the NWO used HAARP to trigger the Earthquake as so many think.
I think God is angry at mankind.
@5:25pm
ReplyDeleteYou have to understand that the US is a big nation. The USSR didn't collapse overnight. It took years. But make no mistake you are right, the US is already collapsing and only a small percentage of Americans realize it. A larger percentage are either in denial and the majority are basically clueless and are ready to vote for Obama again.
Everything that we know is happening and those things that are being covered up in this secrecy state is all pointing to a huge collapse of biblical proportions.
Like I said though, the majority are clueless...
USA has a very large economy not to mention the world reserve currency. Of course America is collapsing right now and it takes awhile before it is completely collapse. We are witnessing the residue of once great America Empire. The Soviet Unions sudden collapsed was due to it economic data not made public and other secrecy while America economic data is made public even though it is fudged. This is the reason why many saw America collapsing since the housing bubble burst in Summer 2007.
ReplyDeleteQuote from the story.
ReplyDelete"We have to broaden the base—51 percent of Americans don't have any income taxes," he said. "That's not acceptable in a democracy."
A very long time ago I was sitting in a hot tub with my father-in-law and he said "I would love to pay taxes on a million dollars". I looked at him with a puzzled face and then he said, "if I had to pay those taxes, that would mean I'm a millionaire".
I would be oh so happy to pay Federal Income Taxes, but since 2008, I have earned less than $12,000 annually thanks to this wonderful economy.
I do currently have a well paying job, but I only go to work when I have something to do within my skill set.
The people I work with are clueless. The USA is like the Titanic, many passengers had no idea the ship was sinking till the last few minutes. My co-workers get paid every two weeks and their favorite TV shows are waiting for them when they get home.
My own mother thought I was wrong when I said the Federal Government was officially broke as of Monday of last week. She was certain I was wrong because she did not hear anything about this on the news. That day was also the day (more of less) that the whole damn world learned about the Terminator's Love Child and that was the headline story on the day the government ran out of money.
Pathetic...
Modern America was traditionally built up after slavery was ended by a nation of hard working lower paid immigrants, until that system was changed by importing the cheap labor as illegals ,creating two types of workers overpaid “official” legal workers with full benefits and unofficial, underpaid illegal workers to do the dirty work , immigrants that had to often use trickery to become legal citizens in order to get regular citizen social security benefit entitlements like the official American workers.
ReplyDeleteSome of whom jealously guard their privileges and food stamps from competition as “rightful”legalised Americans .
But,as the rich or upper middle class Americans, even well off Austrian immigrant celebrity actors , often employ minority nation minorities ,or immigrants ,legal or illegal as housekeepers ,maids , cleaners or the like personal servants or unofficial in house second wives,I cannot help wondering whether the mother of the Austrian Terminators baby was of Mexican origin ?