More reason to loathe the baby boomers, they start retiring soon and will begin their tremendous strain on the economy. Coupled with the bursting housing market that won't stop dropping and war spending in the trillions, and the falling value of the dollar we are fucked.
The federal budget was balanced when Clinton left office, and the deficit was in decline. Bush came into office, passed a massive tax cut for the richest members of society who already avoid their fair share of the tax burden, he started an unnecessary war that has no end in sight and will already take us nearly a century to pay off. In order to fund this deficit spending we sell the dollar to overseas banks, and mostly to China. The dollar is dropping in value due to the colapse of the housing market causing foreign investors to dump US currency in exchange for the better performing Euro. All the while congress continues to spend billions on pet projects so they can tell their constituancy that they bring home the wastefull government spending instead of letting it go to other states. Here comes another financial strain on the economy. Now because of short sighted selfishness you and I are all fucked in the ass. We are not at fault, and the people who are to blame have the power to insulate themselves from the consequences.
Its George W. Bush's version of tricle down economics. The rich fuck up big time, and we suffer the consequences.
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