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

[pvsi.]

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

 

[CrusaderFrank]

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

 

[CrusaderFrank]

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

 

[pvsi.]

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

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

 

[Steelplate]

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.

 

[occupied]

Morally? Absolutely.

 

[francoHFW]

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...

 

[Dont Taz Me Bro]

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

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

It's not rocket science.

 

[Papageorgio]

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.

 

[francoHFW]

#8-Actually, it seems to be LOL.

 

[kyzr]

The US credit rating will be downgraded any day now. That means borrowing costs will start to explode if we don't get the Budget balanced.
The DC coxuckers had better start fixing SS & Medicare or the US will implode. Bill Bradley outlined a very good game plan for getting to a balanced budget while still keeping the economy afloat.

Wonder why Obama/Romney can't seem to put a coherent plan up? Probably playing to their bases until after the election, and then the magic etch-a-sketch "aha moment pf brilliance"?! I don't think so...

 

[Papageorgio]

Actually, it seems to be LOL.

Everything seems like rocket science to politicians.

 

[occupied]

They shorted the greatest long term investment in the history of the world, the American middle class.

 

[francoHFW]

China was the Pub credit card for overspending and cutting taxes. Ideological insanity that continues, This may have worked once, but that was a certain set of circumstances in 1983.

 

[francoHFW]

The US credit rating will be downgraded any day now. That means borrowing costs will start to explode if we don't get the Budget balanced.
The DC coxuckers had better start fixing SS & Medicare or the US will implode. Bill Bradley outlined a very good game plan for getting to a balanced budget while still keeping the economy afloat.

Wonder why Obama/Romney can't seem to put a coherent plan up? Probably playing to their bases until after the election, and then the magic etch-a-sketch "aha moment pf brilliance"?! I don't think so...

The credit rating was already downgraded- S+P said it was disfunction, that 70% blame on Pubs, the 30% are nuts LOL.

SS needs a tinker, like raising payroll limit, no big deal. Medicare non Pubs think is being fixed by ACA. Pubs just want to repeal the 20th century.

We should also cut military as these wars are ending, and raise taxes slightly on the bloated rich.

Pubs have been incompetent and wrong for years, and still are. Change the channel.

Making up BS about Clinton doesn't change that, as well as all the other Pub lies, see sig. A disgrace.

 

[Mad Scientist]

The US credit rating will be downgraded any day now. That means borrowing costs will start to explode if we don't get the Budget balanced.
The DC coxuckers had better start fixing SS & Medicare or the US will implode. Bill Bradley outlined a very good game plan for getting to a balanced budget while still keeping the economy afloat.

Wonder why Obama/Romney can't seem to put a coherent plan up? Probably playing to their bases until after the election, and then the magic etch-a-sketch "aha moment pf brilliance"?! I don't think so...

The credit rating was already downgraded- S+P said it was disfunction, that 70% blame on Pubs, the 30% are nuts LOL.

SS needs a tinker, like raising payroll limit, no big deal. Medicare non Pubs think is being fixed by ACA. Pubs just want to repeal the 20th century.

We should also cut military as these wars are ending, and raise taxes slightly on the bloated rich.

Pubs have been incompetent and wrong for years, and still are. Change the channel.

Making up BS about Clinton doesn't change that, as well as all the other Pub lies, see sig. A disgrace.

Lighten up Franco, your schtick doesn't work anymore.

 

[uscitizen]

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

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

It's not rocket science.

Yeah but a bit of an overly simplistic answer there.
Why is in the details.