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Us Is Broke! by geniusbami(m): 11:47am On Apr 07, 2011 |
Got this news report in The Guardian today that the US Government may shutdown and it sounds compleletely strange. It would sound strange to hear that even a department of the US government is broke, let alone the entire US government. This might be signalling something more devastating than the global economic meltdown that saw a crumbling of virtually all financial institutions all over the world in 2008 in d wake of the US mortgage sector collapse a little earlier. Do anyone understand the story better to give us some analysis and interpretations, conclusion(s) and advise? Please, read: http://www.ngrguardiannews.com/index.php?option=com_content&view=article&id=43967:talks-intensify-to-forestall-possible-us-govt-shutdown-&catid=76:world&Itemid=560
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Re: Us Is Broke! by obowunmi(m): 12:11pm On Apr 07, 2011 |
Whan an interpretation of government shutdown --- and NO! They're not shutting down because they are broke. Its because Reps and Dems can't agree on the budget --- now if there's no budget, you can't work. Doesn't equal the U.S is broke. Although they do have significant debt. They owe China a trillion dollars and growing --- |
Re: Us Is Broke! by geniusbami(m): 12:31pm On Apr 07, 2011 |
Hmm!! Okay! And I think they've been having budget deficit for how many years now, back-to-back? |
Re: Us Is Broke! by obowunmi(m): 12:41pm On Apr 07, 2011 |
Indeed bro, but most government have deficits. The issue that's a concern for the U.S. is who owns the debt? Go figure! Anyways, the congress shutdown has more to do with budget vs. broke. |
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