Our debt is unacceptable, we're at twice the level the world thought we'd need to incur to go under. Everyday a bunch of people in a room take in loans from private and foreign interest on our debt. We're broke and doing nothing about it. If we don't cut spending and raise taxes with in five years America goes bankrupt and the government just shuts down one day and then all hell breaks loose. Its absurd that we let ourselves get in this situation and is even more absurd that the public knows we're in debt and bitches about spending cuts while politicians talk about cutting taxes.
We are about to have another bubble burst, the stock market is a wonderful tool for seeing when the next down turn is coming it always comes right after explosive growth. The current "recovery" is being fueled by the wealthiest people of the world buying up everything while its cheap, once prices reach a peak they'll sell and no one will buy and then they'll start cutting prices and everyone will freak out. That's just how capitalism works. You produce till you overproduce then there is a crash and then you produce more and there is another crash and ever crash gets worse. We know exactly how to prevent another crash and we know how to turn the economy around but it would require a global effort and a whole lot of unpopular policies. So social programs are going to suffer, some people are going to lose help they need, its not great but its what has to happen. Taxes have to go up as well, by a good bit too. The only thing we can't afford to cut is the defense budget because right now we're holding several countries in the middle east together while the region goes to hell and if we go soft China takes over as the world super power.
Smallest of problems, even if the taxes were raised exponentially, the generated taxed income wouldn't be enough to pay off the debt that America has right now. THe multi-trillion dollar debt won't get taken care of easily. In fact I'm pretty sure that most of the debt that we have will be bought up by other countries, putting us in more and more debt, and eventually, the slight increase that we have seen since 2oo8 will mean nothing.
For all intents and purposes we are almost identical to the way that the Roman Empire was right before it completely collapsed in on itself. China is a major concern as far as many things go, money, power, egg rolls, all that good shit a country needs to rise to the top of the global super power food chain. We are short bursts away from being like England in the 7o's, its inevitable that the economy is going to collapse under the wait of the shifting losses.
After the Great depression, the American financial situation became a log cabin that was built on shifting sand, and its starting to tear it apart.
The 2oo8 bailouts had to be the worst idea possible. The massive debt held by the banks that were bailed out was uncontrollable, not to mention bailing out failing businesses. The economy was pruning the chaff from the wheat, and was phasing those out slowly by way of bankruptcy. Next issue is that the government freaked out and thought that they were losing everything, which they weren't.
Makes me think, what if they had taken those trillions of dollars and put it into something that is needed, like an over-haul of the American education system, maybe we would have less reality shows and more scholars.