Will the USA default?

[racefactory]

I wouldn't like to be in government in the USA with the coming social unrest from all the job losses and cuts. They won't be at the gates with pitchforks, but guns!

[SPman]

Interestingly, Japan has twice the deficit of the USA or Italy and equally useless leaders........

Unemployment in the USA using pre 1980 methods of measurement comes out at 22.3% - not the 9.?% officially quoted, which would better reflect the general feeling among the broader population in the US.

But still, Republicans refused to offer even the most reasonable concessions. They voted NO to ending $21 billion in taxpayer-funded handouts to tax-dodging oil companies. They've repeatedly stalled on bringing in $100 billion per year by closing corporate tax loopholes. They've rejected a new income tax bracket for households making above $1,000,000 per year. They even voted down ending tax breaks for corporate jet owners. The only spending Republicans spared from cuts was the Pentagon budget. The basic needs of America's most vulnerable were cut to shreds. President Obama calls this a "compromise," but this was a deal where the Republicans got everything they wanted - trillions in spending cuts, and no new revenue.

It'll all end in tears, probably of the high velocity medium calibre kind, and I wouldn't want to be there when it does......

[Indiana_Jones]

Should of let the car companies go under

-Indy

[Vacquer0]

I believe your unemployment rates are quite accurate on a national level and low for some states. The slow deterioration of these communities is devastating when you watch it happen to your friends and neighbors.

What is amazing or just plain sad is the fact of how few Americans actually understand or even care about these facts. Many of you (Kiwi's) understand our political system better than the citizens here. They will end up paying for that mistake, surprised and butt-hurt. I don't understand completely how this apathy occurs.

My opinion is the majority of the politicians are psychopaths and criminals.
These issues caused by corporate greed are not isolated to this country.

[avgas]

Should of let the car companies go under

3 litres...... to give the poms a chance

[Indiana_Jones]

3 litres...... to give the poms a chance

lol

We had our chance and had a good run in the 50s and 60s but lack of foresight and investment put an end to that.

Then government action was merely sorting out deck chairs on the Titanic (Think NVT).

Nice to see the likes of Bloor etc have learnt the lesson.

-Indy

[Indiana_Jones]

I fear the problem will only get worse down the line as my generation, generation why-bother, is used to living the Freddy Mercury way of "I want it all and I want it now".....

-Indy

[Robert Taylor]

I fear the problem will only get worse down the line as my generation, generation why-bother, is used to living the Freddy Mercury way of "I want it all and I want it now".....

-Indy

Well said, that is the root of the problem at all ends of the spectrum.

[rainman]

...generation why-bother...

Like it...!

[shrub]

And the credit has been downgraded. We live in intersting times, do we not?

[Paul in NZ]

And the credit has been downgraded. We live in intersting times, do we not?

I'm no prophet but I'll say this - you have NO idea how interesting this could get....

Sigh

All brought on by a bunch of cunts that value their 5 mins on TV more than a decent life for Joe Six Pack....

[Vacquer0]

Not a matter of what country you are a citizen of. Only how much money you have and what you are willing to do to gain power. Otherwise, we all are merely a commodity, just expendable peasants.

These corporations make no distinctions on who they use there weapons and tactics on. Blaming a specific country or government may not be accurate any longer.

[FROSTY:Me]

Maybee im just a stupid kiwi git but isn't the answer to the USA's fincnancial woes pretty odvious? Stop going to war with every country in the world. Build GOOD stuff instead of blowing stuff up.

[rainman]

Maybee im just a stupid kiwi git but isn't the answer to the USA's fincnancial woes pretty odvious? Stop going to war with every country in the world. Build GOOD stuff instead of blowing stuff up.

Not a stupid git at all. The problem is the oil. If they stop warring with the Middle East and let them keep their oil, their economy will fall on it's arse. Faster than it is already, of course.

[racefactory]

Maybee im just a stupid kiwi git but isn't the answer to the USA's fincnancial woes pretty odvious? Stop going to war with every country in the world. Build GOOD stuff instead of blowing stuff up.

You'd think so but the American war machine is a crucial GPD generator for the country.