Discussion
So, those tax cuts Obama promised...
http://www.youtube.com/watch?v=O_TjBNjc9Bo
It's a cut down version of "I.O.U.S.A." to half an hour. It seems quite even handed, interviewing both Republicans and Democrats.
What I found most shocking about the video was that each time the trade deficit grew the U.S. economy seems to have gone into recession...then they get to 2008
. However each time the trade deficit was brought under control the U.S. economy seems to have done well.
Two things seem clear to me:
1. The federal government will not be able to continue it's social welfare and healthcare programs to current levels.
2. It's unlikely that a responsibe government could now afford to slash taxes in a meaningful way.
What do you think?
I had a search but didn't find a relevant thread on this elsewhere.
http://www.youtube.com/watch?v=O_TjBNjc9Bo
It's a cut down version of "I.O.U.S.A." to half an hour. It seems quite even handed, interviewing both Republicans and Democrats.
What I found most shocking about the video was that each time the trade deficit grew the U.S. economy seems to have gone into recession...then they get to 2008
. However each time the trade deficit was brought under control the U.S. economy seems to have done well.Two things seem clear to me:
1. The federal government will not be able to continue it's social welfare and healthcare programs to current levels.
2. It's unlikely that a responsibe government could now afford to slash taxes in a meaningful way.
What do you think?
I had a search but didn't find a relevant thread on this elsewhere.
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