We hit twelve trillion (with a T) debt this past week. That will double in the next ten years and our politicians have not a clue on how to stem this thing that will bankrupt this nation. Our dollar may lose it's rating as a currency. We may be the next Greece. With our states sinking in debt it's just a matter of time the country as a whole will sink. May America become a third world nation? Or is it just nobody cares because they got theirs? I heard it reported today on a business news channel that we may be heading toward a double dip recession. Anyone with knowledge of economics can help us in understanding on what is coming.
Warning, do not click if you have a weak stomach.. http://www.usdebtclock.org/ That being said, all is not lost. Some economists prefer to use public debt rather than gross federal debt, but one measure "isn’t more 'right' than the other – they are just looking at different things," said Marc Goldwein, policy director for the Committee for a Responsible Federal Budget, a middle-of-the-road budget-hawk group. "Boehner may be cherry-picking, but I don’t think he’s misrepresenting in any way." It's also worth noting that these numbers are only estimates. They could change over the course of the next two years, depending on economic conditions and policy choices. This year, we have added an average of 200,000 jobs per month, a majority in the private sector, a stark contrast to the Bush Administration record of losing an average of nearly 750,000 jobs per month in its last three months." Nancy Pelosi on Friday, June 4th, 2010 in a news release We found Pelosi largely correct on the details but that she dodged some important context. -- Last month, the unemployment rate fell. Correct: It fell from 9.9 percent to 9.7 percent, where it had been for the first three months of 2010. -- Last month, private sector jobs expanded. Correct: The economy added 41,000 new jobs in May, although that represented the smallest increase since January 2010. -- The U.S. has added jobs in six of the last seven months. Correct: The economy added 64,000 jobs in November 2009, lost 109,000 jobs in December 2009, added 14,000 in January 2010, added 39,000 in February, added 208,000 in March, added 290,000 in April, and added 431,000 in May. -- This year, the U.S. has added an average of 200,000 jobs per month. Very close. The average was 196,400. Pelosi would have been on safer ground if she'd said the economy "had added, on average, almost 200,000 jobs per month." -- A majority of the jobs added this year have been in the private sector. Correct, though barely. The average monthly increase in private sector jobs was 99,000, or 50.4 percent of new jobs added. But here's the part we paid special attention to, because it seeks to contrast these numbers with the record of President George W. Bush:
Polititians are not leaders.. 1% of the population controls the wealth. The puppets in Washington are there to MAINTAIN THAT RATIO not represent you.!!!!!!!!!!!!!!!!!!!!!!!!!!!
Sorry, the link I posted to politifact got cut off. Here it is http://www.politifact.com/truth-o-m.../pelosi-touts-democratic-record-job-creation/
Well yeah that kind of happens when you're not at war. you have to add in large amounts of combat/hazardous duty pay, rising medical costs due to wounded, fuel, munitions, extra manpower..the list goes on and on... The economy is so bad, some school systems are instituting 4-day weeks to cut back on costs. Pulling out of either Iraq or Afghanistan now, would probably save us fast money, but lead to deterioration in other political departments.
