BiggieScooby Posted December 8, 2011 Share Posted December 8, 2011 Many economists are beginning to say the U.S. has entered a period of no growth similar to 90s to early 2000s Japan. With private debt still at 240% of GDP and public debt at 200% and climbing. The majority of Americans are deleveraging their household debt. With businesses large and small cutting debt, and govt focused on cutting debt, any attempt by the Govt to encourage spending (stimulus) will only temporarily boost our economy. One economist has put it bluntly: everyone will have to lose in order to gain: government, the public and business. To put it more bluntly govt must reform and lower spending, businesses will need to hire, train and be prepared to pay more - minimum wage must be boosted 50% to drive wages that have stayed level for over 30 years, and Americans all 100% must be prepared to pay more in taxes. Ancillary to what they are proposing is major overhaul of the tax code with point of emphasis being on simlification and modernization, health care costs must be controlled, and energy independence effort similar to "man on the moon" must be enacted. Manufacturing is critical to redevelopment. Infrastructure and transportation modernization is critical. Republicans and Democrats and independents are Americans first. We must work together. Fox News, MSNBC and CNN make more money off of a divided and bickering Government and Public. This cannot be the way forward. Link to comment Share on other sites More sharing options...
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