RS
MEMBER DIARY
U.S. is at the Edge of a Financial Cliff
For a while now, I have been saying America is at a crossroads, or at a fork in the road, or stuck between a rock and a hard place. But it appears with the debt numbers released on Wednesday, we are now standing at the edge of a cliff.
Reuters reports that:
“The U.S. debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015…The total U.S. debt includes obligations to the Social Security retirement program and other government trust funds. The amount of debt held by investors, which include China and other countries as well as individuals and pension funds, will rise to an estimated $9.1 trillion this year from $7.5 trillion last year. By 2015 the net public debt will rise to an estimated $14 trillion…”
Yet, The Hill informs us that labor leaders actually want the government to spend more on their behalf, despite that fact that our national debt is at an all-time high:
“Lawmakers should not allow themselves to be held back by concerns over deficit spending, the leaders argued, as the best solution to bringing down the national debt is to create more jobs and raise consumer spending and government tax revenue.”
It’s not just “concerns” over deficit spending that have lawmakers worried, it’s the common sense knowledge that you can’t spend your way out of a spending problem.
In March, Moody’s warned both the US and the UK that stale growth in the economy and increasing unemployment rates would threaten our AAA credit rating:
“The pattern of growth and the high rate of unemployment raise the question of how strong the recovery will be going forward,” Moody’s said. “The ability of the U.S. economy to grow more rapidly and, therefore, for government revenues to contribute to fiscal consolidation, will have to depend on a revival in the growth of consumption.”
Our country is standing at the edge of a cliff, and meeting the demands of the unions will push us off. The left can continue to ask for more money, more stimulus and more benefits, but commonsense must rule the day. We cannot spend our way out of a spending problem. If we keep it up, we risk losing our National AAA credit rating which will spell certain disaster for every single American. It time to restore a sense of fiscal responsibility in Congress.

![[RS]](/t/img/logo-footer.jpg)
Pingback: Claud Sabino
Pingback: Signe Ponds
Pingback: electronic cigarette
Pingback: Welcome to My Blog
Pingback: Automobile Forum
Pingback: zakopane noclegi
Pingback: skype pobierz
Pingback: Fisch Futter
Pingback: HGH Advanced reviews
Pingback: cv wzór
Pingback: home distilleries
Pingback: wedding hairstyle
Pingback: Investment House
Pingback: sbobet
Pingback: คอนโดเอแบคบางนา
Pingback: useful site
Pingback: BBCAT
Pingback: descargar musica gratis online youtube
Pingback: ps3
Pingback: Live TV Channels
Pingback: Koi
Pingback: chapter 13 bankruptcy
Pingback: seo for free
Pingback: spirits drink
Pingback: Aquaristik Bücher
Pingback: the original supply
Pingback: Pool Shop
Pingback: Video on Demand
Pingback: randka
Pingback: trust
Pingback: darmowa strona z randkami
Pingback: install 3 piece crown molding in windermere
Pingback: darmowa strona z randkami
Pingback: portal randkowy
Pingback: umow sie na randke
Pingback: super randka
Pingback: super randka
Pingback: wielu ludzi w jednym miejscu
Pingback: PPT
Pingback: http://www.opensourcesalsa.com/pumpkins-zero/
Pingback: who is the best car extended warranty
Pingback: buy commercial property for sale
Pingback: Explore Talent Music Video
Pingback: local jewelry stores
Pingback: riddell football helmets
Pingback: task management application
Pingback: I was reading this
Pingback: buy vending machines
Pingback: rewelacyjny portla randkowy
Pingback: darmowy serwis randkowy
Pingback: lcd screen repair
Pingback: darmowa strona randki
Pingback: Arkadas Bul
Pingback: umow sie na randke
Pingback: rewelacyjny portla randkowy
Pingback: conversational strengthen
Pingback: portal randkowy za darmo
Pingback: beats shop
Pingback: guaranteed payday loans
Pingback: casino gaming
Pingback: listen to podcast
Pingback: pmu resultat hier pau
Pingback: wedding planner italy
Pingback: his comment is here
Pingback: Computer Repair
Pingback: study this offered here
Pingback: Fraser
Pingback: Egil
Pingback: NFL
Pingback: direct investment spectrum
Pingback: Wilmer Ammirati
Pingback: alfileres de boda
Pingback: Diseño web barato
Pingback: on Yahoo
Pingback: A great read
Pingback: sofy rozkładane
Pingback: las vegas bankruptcy lawyer
Pingback: ecommerce service in delhi
Pingback: becuri xenon
Pingback: honda auto parts
Pingback: Diamanta