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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

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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