Anybody hope the US defaults on its debt?

[lizard81288]

I kind of hope so, just to see what will happen. The debt crisis isn't as big as EU's though. However, it if does fail, it will be huge & probably hurt the world economy. Obama seems to have been talking to the American people, which i like, haven't seen any of it though, but atleast it keeps us in the loop. It seems the Republicans are to blame...again (when aren't they ). They signed something ( stupid) forbidding them to raise taxes. One of their ideas, is to keep saying no, but it will still get passed, due to them (republicans) not having enough votes to undo it and Obama can sign it. Which means, Obama will get what he wants & republicans can say, "well, we stuck to our guns".
I wonder if it gets so bad, maybe, and thats a big MAYBE, they will put politics aside abd do something good for the US people.

[Gypsy]

It's not because of republican or democratic policies, it's because this it what happens when a capitalist system keeps running. It seems every country is in debt with each other these days. Greece is in the worst trouble right?

I agree that this is dumb, don't want to talk about it much but suffice to say I am interested to see what happens.

[Supreme Warrior]

with Obamer keep on spending money like no tomorrow, I seriously doubt it.

and Obama talking to the people? more campaigning and lies, just so idiots will vote for him again.

[Pickles]

Supreme warrior for world leader, because he knows his shit.

Dont bad mouth the fucking individual unless they have been proven to be corrupt.

They all are but lets wait till its proven.

Oh and to address you're actual point, its far better to spend then to save, no economy was ever saved by a stand still. Obviously.

[Supreme Warrior]

all i can say is whatever floats your boat, believe whatever you want to believe,

as long as jobs are sent overseas there will never be any cash circulation, all the money goes to big corporations.

[Pickles]

all i can say is whatever floats your boat, believe whatever you want to believe,

as long as jobs are sent overseas there will never be any cash circulation, all the money goes to big corporations.

Dont get me started, Every big corp - google is now out sourcing from Ireland to Poland and the surrounding area's, hadn't realised they were doing it in the USA too?

[Supreme Warrior]

outsourcing is the reason we are in such a mess, until that changes we will never properly recover.

[Sergei Dragunov]

outsourcing is the reason we are in such a mess, until that changes we will never properly recover.

That about sums up my opinion.

[Grawderu]

All I can say is this: Rome

[TheRealSpiders]

outsourcing is the reason we are in such a mess, until that changes we will never properly recover.

The problem is that outsourcing is a solution to a cost problem, jobs get outsourced to keep a company's bottom lines low. The cost of maintaining workers here would be too high so outsourcing happens so companies can sell goods at a reasonable low to compete with the market.

The public's gotten complacent with it's lifestyle; People complain that there are no jobs over here, but aren't willing to compromise the prices required to maintain those jobs over here.

It's a problem that I doubt will be fixed anytime soon... Of course I'm not an economist, so who the fuck knows?

[lizard81288]

Another big issue is our technology. Now and days machines do alot of work too. The days have passed where man builds cars, now machines do most of the work for alot of the industries.

[Josh]

I don't feel that it is a problem due to capitalism by any stretch. The states that are in the best situations in terms of revenue and employment are the ones with the lowest and most business friendly tax rates. Look at Virginia. Most of these states tend to also be right to work states. This means that unions don't have to exist in manufacturing environments. Say what you want to say about workers rights and such, but when businesses are doing everything it takes to get away from unions in order to stay in the black, something needs to be looked it. History has shown that unions can actually kill the parent company. What happens then, no jobs. Generally speaking again, the states with the highest rate of unemployment and the most debt are the ones with the highest tax rates. What tends to happen in high tax areas are the companies start to leave along with the jobs. Then the people that are left behind are the ones that were paying the lower tax rates or were dependent on the government for a living. However, at this point there aren't enough of the higher bracket tax payers left to support the poor. What the Republicans are trying to say about this is that there needs to be a balance of the tax rates and the government assistance programs. As you start the raise taxes, unemployment eventually does drop which then means there are less taxpayers and more people on government assistance. The system then gets unstable and starts to collapse. Similar can be said about Europe's problems as well. You can raise taxes today and have increased revenue tomorrow, but what you will have in the future is a crapshoot. You can try to make this country more business friendly (the only country with a higher corporate tax in the world is Japan) and try starting to cutting fluff from the government, and the odds to coming out ahead in the future are better. However, it won't be a fix that you will see the results tomorrow. However in this day and age, politicians want their results tomorrow in order to make themselves look better for the next election.

As for social security and medicare, those two programs should not be hurting financially by design, but it's the same politicians that are wanting to raise taxes that are using the money from those two programs and are in turn hurting them. According to my pay stub I get every two weeks, I have around $30 per week of my paycheck go into each of those programs. That's $60 per week or about $120 per period. My company pays in even more then that on my behalf as their contribution. The federal income tax is then even higher.

I don't feel that the country should default, but I truly believe that we need to head in a different direction then what we are going in now.

[skullpoker]

The average income of CEO's rose 23% in 2010, while the average wage rose only 0.3%. Instead of trying to fix this, corporations are padding their nests hoping the flood won't reach them.

But seriously, how many times does 'money' have to fail before we abandon it? If we remove the source of the corruption, politicians will no longer be capable of being corrupt.

[Andy_Jerk]

The average income of CEO's rose 23% in 2010, while the average wage rose only 0.3%. Instead of trying to fix this, corporations are padding their nests hoping the flood won't reach them.

But seriously, how many times does 'money' have to fail before we abandon it? If we remove the source of the corruption, politicians will no longer be capable of being corrupt.

I think that any enlightened adult begins to realize that there is a psychological deficiency in people who place more value on material objects than on more lofty ideals, but that is how limited a lot of people's perceptions are.

"If I can just step on enough people's necks and GET that shiny "thing," then I will be happy forever."

[Dr Mario]

The problem is that outsourcing is a solution to a cost problem, jobs get outsourced to keep a company's bottom lines low. The cost of maintaining workers here would be too high so outsourcing happens so companies can sell goods at a reasonable low to compete with the market.

There's also one other problem: If you're a company selling luxuries, you don't want the crash in living standards needed to make outsourcing unattractive because it'll gut your profitability. You want the purchasing power difference to be as high as practical between your manufacturing base and your sales base because that results in the market generally setting a higher price.

You've also got to consider the changes required to bring down western manufacturing costs into line with developing world manufacturing costs. It ain't a pretty path to go down for anyone involved.