A Future Laden with Debt
OPS_admin | Jun 24, 2009 | Comments 0
A Future Laden with Debt
There is no way to cure the federal budget problems if we continue to allow our productive assets to be whittled down by hostile takeovers from foreign companies.
America has two major debt problems looming on the horizon: the national public deficit and the international trade deficit. Our national debt is now over $11.4 trillion – more than half of which is held directly by the American public – and our accumulated trade deficits in the past 40 years total over $7 trillion.
There is no way to tackle these problems without a coordinated, sustained effort on the part of every level of the government and population. If the fiscal instability is not addressed with long-term goals in mind Americans will be riddled with debt problems for generations to come.
The projected federal budget deficit for 2009 is $1.7 trillion. The projected trade deficit will probably be in the range of $700 billion. Both must be balanced and eventually eradicated, but in some ways the trade deficit is the worse of the two evils.
via Economyincrisis.org – America’s Economic Report – Daily.
Filed Under: Economy - Labor
Comments (0)
-
If we don't change our ways soon...
A new report by the Royal Society, chaired by Nobel prize-winning biologist Sir John Sulston warns that world population must be stabilized and consumption in wealthy nations must be reduced or the entire planet is in big trouble. As the report reads: "The number of people living on the planet has never been higher, their levels of consumption are unprecedented and vast changes are taking place in the environment. We can choose to rebalance the use of resources to a more egalitarian pattern of consumption... or we can choose to do nothing and to drift into a downward spiral of economic and environmental ills leading to a more unequal and inhospitable future."This is the same warning that President Jimmy Carter gave Americans back in the 1970's - but it was ignored when Ronald Reagan came to power with a "more positive" message basically telling Americans we can do whatever we want. And then after 9/11 - Bush told us all we should go shopping and consume ever more.And now with corporations calling the shots in Washington - long-term sustainability of the planet takes a back seat to short-term profits. If we don't change our ways soon - and embrace clean, alternative energy and educate women around the plant - then we all could be headed for a rough century.-Thom(Is there any chance we will learn in time? Tell us here.) -
LEGALIZE Democracy
" We the corporations" On January 21, 2010, with its ruling in Citizens United v. Federal Election Commission, the Supreme Court ruled that corporations are persons, entitled by the U.S. Constitution to buy elections and run our government. __________
MOVE to AMEND
a project of the CAMPAIGN TO LEGALIZE Democracy
Help end Corporate personhood
-
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. 
moveon.org
