US leaders squabble despite Bernanke cuts warning

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US leaders squabble despite Bernanke cuts warning

Published: 27 Feb 2013 at 01.43
Online news: World

US political leaders Tuesday traded blame rather than fixing a row threatening the fragile economy.

US President Barack Obama speaks during an event at Newport News Shipbuilding on February 26, 2013 in Newport News, Virginia. US political leaders traded blame rather than fixing a row threatening the fragile economy.

President Barack Obama traveled to a Virginia shipyard that builds nuclear-powered aircraft carriers and submarines for the US Navy, amid fears the cuts, known as the sequester, will damage America's defense readiness.

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faranginkorat
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Discussion 1 : 27 Feb 2013 at 07.441
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The media has it preponderantly wrong.

The currency is losing value rapidly as a result of massive government overspending.

That, in itself, will have hugely detrimental long term consequences as peoples' savings become worthless (i.e. the retiring baby-boomers) and what investment money can leave the country will leave.

Huge social program spending only causes people to lose interest in working.

The unabated spending just makes people feel better short term, and pushes a growing problem farther into the future, like giving another bottle of lao to an alchoholic.

When other countries can't pay their bills, the US advises auste
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US leaders squabble despite Bernanke cuts warning | Bangkok Post: news