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
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