New York Times Predicting US Economic Collapse?
Many conservative sources have been predicting problems for the United States Economy based on the record-setting national debt whose growth has been accelerated during the first year of the Obama Administration. Today in a front page, top of the fold story, the “Bible of Progressiveness,” the NY Times has joined the conservatives in predicting severe problems for the US economy based on the fiscal irresponsibility of our government.
In this first article of a series, the Times looks at the structure of the debt and how it looms as a danger on the country’s horizon. The United States Economy has become like those sub-prime mortgages that almost brought down the banking system last year. We have borrowed more than we can afford but as long as interest rates stay low, we will be able to make payments. Once rates go up, the federal government will have to “default on its homes.”
(Excerpt) Read more at yidwithlid.blogspot.com …
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Ah!!! I found what I was looking for. Somtimes it takes so much effort to find even tiny useful piece of information.