not see that we are not equal, anymore...
While we in the G-7 are burdened buy high, and increasing debt...
the rest of the G-20, aka The Bric countries...
are free to "run with the wind"..., at their backs...
What "They" are NOT telling U.S. is that we MUST continue...
IF we do not, we will cripple our economies for the next "Japanese style" decade.
POINT:
When WBush cut [y]our taxes, but did NOT cut medicare/medicaid/drug costs...
continued to fight an off-line war...
allowed the foreign trade deficit to widen to historical highs...
he chose to spend..., on guns AND on butter.
And, to borrow US$ 2.5 Trillion from China...
and another US$ 1 Trillion from Japan and the Gulf oil states...
{along with Canada, Mexico and Venezuela...}
We can NOT cut high taxes to create growth...
We can NOT cut spending on police, fire, teachers enough...
we can NOT cut spending on medical care for ALL of U.S.
But we DO need to grow.
That requires U.S. to use Keynesian Economic stimulus spending...
As Richard Nixon told U.S....:
"We are ALL Keynesian's now."
and/or in the same Keynesian boat.
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Reducing high public debt will restrain growth
for years in the advanced economies
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Public debt of rich countries to rise to 133% of GDP in 2020 from 102% in 2010;
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