Euro-Zone Consumers Cut Back on Spending - WSJ.com
Gee - we'd sure like jobs producing things. But heck, we have to pay for entitlements. That means, everything you buy will cost 25-50% more and you salary will be hit to pay for additional taxes.
Oh my, Obama's wonderland.
And then, what you make can't afford to buy you things that are now that much more expensive.
Americans don't have a clue at what socialist policies cost and they think borrowing 42 cents of every federal dollar spent doesn't have consequences. (But as reported last week in the Wall Street Journal, the US is already spending 220 billion a year on interest on the federal debt (over 10 years, 10x220 = 2.2 trillion, which is about equal to the tax increases and budget cuts being bandied about).
So increase the interest rates to where they should be. Pick a number - say 6%. And then the US is in real do-do.
Meanwhile,with all these federal expenditures, the economy is barely limping along.
How can people not think something is wrong?
(amongst the myriad of untouchable questions is why Europe spends less than half of the same percentage of GDP but has satisfactory healthcare. could the end-of-life costs in the US be subject to debate?)
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