US deficit poses risk!!!

http://straitstimes.asia1.com.sg/commentary/story/0,4386,229688,00.html

Deficits don’t matter. Corporate corruption don’t matter. Just make the rich happy and shut the F up.

Y’know, maybe the deficit isn’t so bad. The result is that the dollar drops and we might see higher interest rates. That means imports cost more so Americans can’t buy as much crap. They can’t afford to. Which is probably good because after all the home refinancing, everyone is already in debt again. Maybe they’ll pay off their debt now. Is that a bad thing? Well, not if they have jobs; and Bush says those tax cuts are going to grow the economy so there should be lots and lots of jobs. Course they’ll only pay a fraction of what they used to pay; esp with legalizing immigrant workers and white collar work heading to Asia. So maybe Americans will ONLY have enough to pay off debt. Forget savings. Forget planning for college. Forget keeping up with the Jones’s. America is going to move downward; we’re going to level the standard of living in the world by sacrificing our way of life. That’s not so bad, is it?

Something to consider…

Well, that would be great…unfortunately the world economy doesn’t work that way. If the US of A goes bankrupt than the whole developed world is pretty much screwed. The Great Depression of the 1930s and the curent situation in Argentinia show what can happen…

Ummm… that’s my point.