It appears that the addiction to deficit spending is not limited to the USA alone. Talk about
stupid: the U.K. expects their national debt to reach to 60% of the GDP. The average household debt is 165% of personal income. Their economy is so sluggish that the state accounts for 46% of GDP. Incredible!
We are on the same road, just not quite as far down that road as they. Let's pray we turn back from it. However, I should note that our politicoes are speaking the same foolish actions as the Brits have done.
It is possible that the Brits may default on their foreign debt payments. Furthermore it looks like the pound may fall to 0.90/$1.00 vs. the USD. Just last year it was 2.12/$1.00.
And don't think that this won't hurt the USA.
read about it here: http://blogs.telegraph.co.uk/ambrose...um=20&com_pg=3
stupid: the U.K. expects their national debt to reach to 60% of the GDP. The average household debt is 165% of personal income. Their economy is so sluggish that the state accounts for 46% of GDP. Incredible!
We are on the same road, just not quite as far down that road as they. Let's pray we turn back from it. However, I should note that our politicoes are speaking the same foolish actions as the Brits have done.
It is possible that the Brits may default on their foreign debt payments. Furthermore it looks like the pound may fall to 0.90/$1.00 vs. the USD. Just last year it was 2.12/$1.00.
And don't think that this won't hurt the USA.
read about it here: http://blogs.telegraph.co.uk/ambrose...um=20&com_pg=3
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