@nothinsnew Said Ok so the so-called liberals are the ones racking up household debt?
Thats so obviously biased that I would have to agree that it really does negate your entire point.
However.... lets start at the start... How is it that these people that cant afford these things are allowed by law to get loans to buy these things? Because your government lets lending institutions give them the loans. There should be laws that stop predatory loans.
Also, I found out the other day ... your government never runs a budget surplus! Wtf? As a country you're always in debt! That means when things like the sub-prime thing happen its harder for you to limit the damage.
Plus you borrow billions off other countries so you can fight wars.
Honestly, I think it's irresponsible economics and you only have yourselves to blame for voting in reckless people like GWB.
Because of the above things you guys will no longer be the worlds greatest economy.
Blaming "liberals" wont help either.
https://www.abc.net.au/lateline/content/2007/s2236161.htm
One last point to your post, You have to remember that America was founded on debt. We have always been in debt.
That is what we do best, we consume which feeds the economies of the world so you should be lucky that we are this way.
As an Fyi, Our founding father and the first Leader of the Free World, George Washington, had to borrow money from a Friend to make it to his own inauguration ceremony in New York......
May 14, 2008 @ 22:11:45
