[chottala.com] US Debt

http://www.powerlineblog.com/archives/2011/07/doorbell.php

For those in the USA, you will find this simple video very touching!

Just to be fair......the debt issue had been made to look like a crisis by the Washington clowns, and the damage had already been done to the $$ as a reserve currency from a perception point of view. If we just reverse the special tax credits given to the Oil/Gas industries during the Bush era and make that industry pay taxes like other industries, then the debt issue could be resolved in 10 years from tax revenues. To put things into perspective, US debt is ~97% of its GDP, and the country is #20 in the top 20 debt ridden countries. Just to compare, England's debt is ~400% of its GDP, and some other European country's debts are over 1000% of its GDP!!

Rana

__._,_.___

[* Moderator�s Note - CHOTTALA is a non-profit, non-religious, non-political and non-discriminatory organization.

* Disclaimer: Any posting to the CHOTTALA are the opinion of the author. Authors of the messages to the CHOTTALA are responsible for the accuracy of their information and the conformance of their material with applicable copyright and other laws. Many people will read your post, and it will be archived for a very long time. The act of posting to the CHOTTALA indicates the subscriber's agreement to accept the adjudications of the moderator]

Your email settings: Individual Email|Traditional
Change settings via the Web (Yahoo! ID required)
Change settings via email: Switch delivery to Daily Digest | Switch to Fully Featured
Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe

__,_._,___