Why is Capitalist America Bankrupt? (Hint: Its not just the one side of the circus)

Discussion in 'Politics' started by pvsi., Jun 7, 2012.

  1. pvsi.
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    pvsi. Member

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    How do you explain the worlds richest nation borrowing from China? DO NOT just hide behind excuses that it's the one side of the testicle responsible for this nation wide problem (be it left or right), because I want some REAL answers, not the left/right political blame game, if I'd wanted that I'd watch WWW.FOXNEWS/CNN.BS.GOV
     
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  2. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Our Federal Social Programs are de facto bankrupts but because we have $100 Trillion in assets here people still lend to us.
     
  3. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Greek power company had to get a $250M Euro emergency loan to keep the lights on in the country
     
  4. pvsi.
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    pvsi. Member

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    I had to take my old man to court in New York couple weeks ago for speeding, and we couldn't find the place, because the town was saving electricity
     
  5. Steelplate
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    Steelplate Bluesman

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    IMO....there are several issues that are to look at.

    1. The degradation of our middle class. Good wages means more tax revenue...more tax revenue means the ability to pay for your governmental obligations and expenses.....not to mention that better wages and benefits means more money in people's pockets....more money in people's pockets means more demand.....more demand is good for business, which in turn means even more of the same.

    2. Our banking sector doubling down on #1 by offering easy credit to make up for the lack of good wages and cash on hand....yes, people do have to have personal responsibility...but at the same time...banks know exactly what they are doing when they send 8 or 9 credit card offers in the mail to everyone in the country.

    3. Governmental overreaching. There is no reason to spend ten times the amount of money on our military than our next strongest competitor does. There is no reason we need a department of homeland security. A decade plus of war......yes....I know Obamacare.....SS....Medicare......Welfare.....

    4. Doing all of the above.....then cutting taxes from a not only sustainable level...but one that was actually working on cutting into the debt.....to one that, even if all those other things hadn't happened....it still might not cover the expenses.

    There are other things....I think these "free trade" agreements do nothing but make crazy profit for our corps but are killing us...Remember the money in pocket/demand/business thing? Lack of investment in our country because of the slave labor rates elsewhere. Not demanding a return for our investment in people down on their luck....the WPA and CCC should be reinstated have those people help restore our crumbling infrastructure to a modern, competitive one that will be able to compete with anything China or any other country can offer.

    JMO.
     
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  6. occupied
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    occupied Gold Member

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    Morally? Absolutely.
     
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  7. francoHFW
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    francoHFW Platinum Member

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    Pub wars off the books. Pub voodoo economics for 30 years. Pub cronyism/corruption World Depression. And they want to do it AGAIN...Great con/sales men, great propaganda machine. Stupid voters...
     
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  8. Dont Taz Me Bro
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    Dont Taz Me Bro USMB Mod Staff Member Gold Supporting Member Supporting Member

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    Pretty simple answer. You spend more money than you take in you eventually go bankrupt.

    It's not rocket science.
     
  9. Papageorgio
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    Papageorgio The Ultimate Winner

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    The US government, the states, the counties, the cities, business, people in general over spent, over extended and spent foolishly. Many in the private sector and many families are cutting back but as we cut back we the government is getting less and they seem to doubling the spending.
     
  10. francoHFW
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    francoHFW Platinum Member

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    #8-Actually, it seems to be LOL.
     

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