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It Can Happen Here. It Might Be Happening Now.

This is a page with some interesting observations and facts about our economy and why we should be worried.

Answer Question

Asked by smalltowngal at 8:22 AM on Apr. 21, 2009 in Politics & Current Events

Level 1 (-9 Credits)
Answers (28)
  • My favorite part:

    Americans have become so accustomed to stability that, even as the future shouts at us with crystal clarity, we refuse to listen. Our government has assumed more debt in the past seven months than can possibly be repaid, and that is before accounting for its existing Social Security and Medicare obligations.

    Answer by smalltowngal at 8:26 AM on Apr. 21, 2009

  • This is exactly true! Americans think they are "untouchable" that this country will ALWAYS prosper, that it will ALWAYS provide for its citizens, that it will somehow weather every "storm," without fully comprehending that the REASONS why this country has always managed to bounce back is due to STRONG leadership (Presidents), STRONG foreign policies, and STRONG Americans who once upon a time were actually encouraged to work hard in order to achieve the American Dream (capitalism).

    We (as a country) do not understand that a strong country doesn't just happen--it is the result of the people and its leaders. The pacifist movement is gaining strength at the worst possible time (failing economy) with the worst possible President (Obama) this country WILL have seen--just you "wait and see!" ::sigh::

    Answer by LoriKeet at 8:36 AM on Apr. 21, 2009

  • Uh yeah, and this is news? It's not news on Fox News, or Meet the Press, or in the Weekly Standard, or with Rush Limbaugh. Keep laughing liberals at the people sounding the alarm about your A$$hole President you chose to destroy this country.
    You got what you asked for.
    Afghanistan will be his quagmire, and the economy is already his fault regardless of what you say. He didn't inherit it, he is making it worse.

    Answer by akinbottom2 at 8:39 AM on Apr. 21, 2009

  • I honestly don't think it would have mattered who would have gotten elected. Obama is basically doing the same thing Bush started. This crisis is 20+ years in the making. Obama is just the unlucky person in office while it hits. Republicans would be bailing out the banks too. If they didn't, then the government would be bankrupt after the FDIC paid everyone bank. The big thing Republicans would have done differently is more tax cuts instead of the stimulus package. I don't think tax cuts would really have helped much since most people would just put that extra money into savings. I know I benefited from several of Bush's tax cuts and I didn't spend more. Businesses are doing the same thing average Americans are doing and starting to hold on to any extra money they have.

    Answer by smalltowngal at 8:48 AM on Apr. 21, 2009

  • Obama is just the unlucky person in office while it hits
    **Please don't help to enable the man who is most likely to deflect blame, he has yet to be responsible or accountable to take any blame for anything in his life. Yet alone the last 100 days. Have you not heard what he said at his recent meetings, after sitting and listening to a rant for almost an hour degrading the U.S. his only remark was " I was 3 months old at the time".
    Our-Your-President lets a dictator tear this country down and all he cares about is what the people in the room think of him? gmafb, he is narcisstic and arrogant and is responsible for encouraging the continuation of this demise at a much more hurried pace.

    Answer by akinbottom2 at 8:55 AM on Apr. 21, 2009

  • Sorry, Obama is not some poor, unfortunate soul or an "unlucky person."

    He IS responsible for causing/owning this overly EXPANDED economic mess--with the stroke of his mighty pen! And tax cuts aren't just for the average people on "Main Street." ANYONE who works for a living, or owns a business big or small, benefited by Bush's tax cuts (which Obama is letting EXPIRE next year, meaning they will go UP--never mind the Cap and Trade bill that will KILL most businesses), so they can keep or HIRE people who need a job!

    We're seeing it now, businesses failing, people losing their jobs, fewer new jobs available. The country going bankrupt. How does one pull us out of this tailspin we're in?! Businesses need to be able to create jobs, they can't do that if they are taxed and regulated to death!

    Answer by LoriKeet at 8:58 AM on Apr. 21, 2009

  • I don't think he's helping matters but I don't think he can stop what was set in motion a while ago though. Some of his policies are going to make a collapse happen faster. I just don't see how we can pay our future debts if interest rates go up at all. We'll end up printing more money to pay interest which will make our dollar worth less so we'll have to pay more interest and cycle continues. We're going to have to through some sort of economic reset sometime and it's not going to be pretty. I think we'll be a stronger country in the long run though.

    Answer by smalltowngal at 9:02 AM on Apr. 21, 2009

  • Opening up Omnibus and his Stimulus Package helped in what way?
    It didn't, he is responsible for those two signings, and lied his azz all the way through them, I blame him soley for anything bad that turns out after signing those bills. He most certainly could have helped or attempted to help to stop what was set in motion, but he just enacted the right programs to help encourage it at a faster pace. The deficit is much larger since he was Inaugurated, the job situations have not gotten better, and nothing has rebounded, nothing. He didn't save anything or anyone, nor will he.

    Answer by akinbottom2 at 9:07 AM on Apr. 21, 2009

  • SURE Obama could have stopped things!!! He was all about HOPE and CHANGE!! He didn't HAVE to sign a TRILLION dollar debt! He didn't HAVE to agree to 9000 EARMARKS! He didn't HAVE to attempt to bailout the Auto Industry....he SHOULD have let them fail, and put that money back in to the country.

    Obama IS and always WILL be responsible for QUADRUPLING this mess, in the first 100 days he was in office!

    Answer by LoriKeet at 9:09 AM on Apr. 21, 2009

  • How does suspending the inheritance tax stimulate the economy? You have people with huge fortunes, that have never paid taxes on the growth of their stocks, pass those stocks down to their children who can now sell stocks at a profit with out paying taxes. People aren't spending more because capitol gain taxes are lower either. A lot of Bush's tax cuts just meant the wealthy held on to more of their money.

    Even if you do business tax cuts to get people to spend more, that will just help our trade deficit to rise. We're still going to have the problem where we're not going to be able to pay China back at some point. We still have a huge social security and medicare liability we can't pay. Business tax cuts won't fix that problem unless other people in the world start buying more American made products.

    Answer by smalltowngal at 9:09 AM on Apr. 21, 2009

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