Recently a feature film named I.O.U.S.A. was released, which is about the enormous debt burden that is crippling the USA.
A 30 minute version has just been released on You Tube at http://au.youtube.com/watch?v=O_TjBNjc9Bo
If you're not aware of the USA national debt, its causes, and implications it's well worth a look.
Interesting - Im not all the way thru but the % of revenue from company tax seems incredibly low compared to the % of direct tax
It's amazing that this topic does not seem to have even been raised as an issue by either of the candidates.
I wonder if either candidate has a solution to it?
The answer would be a combination of significantly raising taxes, not going ahead with promised medicare reforms, and other cost cutting measures.
And neither of the candidates would want to go there - at least before the election.
Anyway, I'm half a world away from the US and not really qualified to give an opinion.
Cost-cutting? From a government?
And the problem may be big in the USA, but it is world-wide in scope. My government managed to find £ 250 billion from nowhere And the European governments are busy printing more Euros as fast as the presses will run. The Russians are dumping $15 billion a week into their economy and I have no clue what is going on in China other than they are in trouble too.
India is Not Spared either. Jobs Cuts, Salary Cuts, Price increase (Mainly on imported products as Rs. get Weeker). The Day doesn't looks far away when we may have to put lipstick on a Pig and be Happy and Entertained rather than going out for a some Fun or Shopping.
by logic,commonsense 7 years ago
Read an article on MSN that the projected deficit for this year is 1.5 trillion dollars. Makes bush look like a piker with his measly 3-400 billion dollar deficits.Course there will be those that forget that bush is no longer prez and will find a way to blame him.Obama and the Dems own...
by Alternative Prime 8 months ago
GOP On Cusp To BLOW A 1.5 Trillion Dollar "SINK-Hole" In Our Deficit ~ WHY The INSANE Recklessness?Yup, Believe it or NOT, that's an UNBELIEVABLE Fact ~ Briefly, here's what this "Trump University STYLE Scam" accomplishes ~ CUTs in Medicare/Medicaid Sabotage of ObamaCARE/ACA...
by Flightkeeper 7 years ago
The nation's debt leapt $166 billion in a single day last week, the third-largest increase in U.S. history; the one-day increase for June 30 totaled $165,931,038,264.30 - bigger than the entire annual deficit for fiscal year 2007. This means that nearly $1,500 of debt was added for every U.S....
by Mom Kat 5 years ago
Alright, so I have a question & I would appreciate not being attacked. With the debates and election coming up, as usual, one of the big topics is the national deficit.My question is this: Who do we owe that much money to?It keeps going up, why? Where is all of this borrowed money...
by lady_love158 6 years ago
http://blog.heritage.org/2011/08/25/mor … a-economy/In true 1984 double speak the WH is pointing to the CBO report on the economy as proof their policies are working! Lol! Really? Working to do what? Destroy America?? Can this country REALLY stand any more of Barack O.numb.nuts???
by ptosis 6 months ago
Do you like the GOP tax bill that will increase the deficit by $1 trillion?If hate it then I ask you, did you contact your 2 senators that represent you via email or phone? Since 1971 the middle class has lost 30% of its wealth What this bill does is take $8 billion from the middle class to...
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