Great Depression and Government Shutdown (02/20/11)This article says The Next Great Depression is possibly arriving very soon. To Summarize: First, the Republican proposed budget cuts are nowhere deep enough. Second, a revision in past employment numbers show a far worse picture. Third, the FED is not going to stop the printing press in a desperate effort to keep interest rates down on Government Debt - if that rate goes up, so too does the deficit. Finally, the Congressional Budget Office released a report that Social Security is basically in the hole (about ten years ahead of forecast).
The following videos talk about a possible Government Shutdown if an agreement on the budget is not forthcoming. Just more fuel for the fire... |
American Crier