On March 2nd, Federal Reserve Chairman Alan Greenspan declared that the current deficits were unsustainable. He also stated that the cost of making ****'s tax cuts permanent would add 1,8 trillion dollars to the federal debt. To this date , **** and the republican congress have proposed nothing substantial to reduce the deficits.
Currently , the cost of the operations in Iraq are not being included in the budget. The cost of this is estimated at 207 Bil. by the end of this fiscal year. Also off the budget is the cost of transition for ****'s Social Security privatization plan ,which is estimated at 104.5 bil. for the first year and 2.2 trill over the decade.
Running these deficits has resulted in the US compiling 7 trillion dollars of debt. This means that as our country produces wealth,we have to use some of that wealth to pay off the debt instead of create jobs or provide for services.
The **** propaganda machine has portrayed him as strong and resolute leader, but the only people he has asked to make sacrifices in Iraq are the men and women he has ordered to put their lives on the line.If he believed the operation in Iraq is as important to the future of our country and the world as he says it is , he ought to have the guts to ask the American people to pay for it instead of wrecking our economic future buy running up the national debt.
www.nytimes.com/2005/03/02/business/02cnd-deficit.html?...
The US trade deficit for February hit a recored 61.04 in February.Like Frankensteins monster,the free trade at any cost deficits are now out of control. Nothing the *administration does seems to do any good.
http://ap.tbo.com/ap/breaking/MGBIDBM3G7E.html The stock market plunges. Is this the beginning of the end for the Bushco insane economic policies?
April 20th, Greenspan repeats his warnings.
http://www.nytimes.com/2005/03/02/business/02cnd-defici ...
For the first time in 14 years, inflation has outpaced the growth in wage. This is what happens when you have seven trillion dollars in debt. The country has to use its rescources to pay off debt istead of creating more wealth.
http://politicsandcurrentaffairs.com/Forum/archive/o_t /...
Manufacturing drops in May.
http://quote.bloomberg.com/apps/news?pid=10000006&sid=a ...
Only 78,000 jobs created in May. As our nation has to use our recources to pay off debt instead of creating jonbs.
http://www.marketwatch.com/news/story.asp?siteid=mktw&g ...
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