Did the bickering over how to fleece Americans out of their hard earned money just lower our credit rating and now we have to pay even MORE interest on the debt?
Wow, so the politicians are not only scamming us and NOT concerned about us but they are actually hurting us!
I cannot wait to see what is ahead in America's future. Here is what everyone is either missing or not saying. Unemployment is really around 13-14% and growing.
Why?
The ATM, the auto checkout at the grocery store, the auto car wash, the robotics welder at the auto manufacturing,the automated answering service at your insurance company, the automated website for planning your vacation....well you get the idea. Technology is growing exponentially. All of these things are great but they all used to be jobs.
Now the other problem. Because of high taxes and low raises, the wife went out and started working. Nothing wrong with that except that when just the men worked there were basically half as many people looking for jobs.
So MORE people are working AND there are less positions available. The ATM doesn't pay taxes.The Travelocity.com website, the welding machine at the auto plant, none of them pay taxes.
More technology less taxes coming in. government raises taxes, more people go to work to sustain their standard of living. Which by the way, is acerbated by monthly rotating debt.
Cable bills, cell phone (I know it is no longer cellular but who calls them mobile communication devices?) and Internet services,even Insurance. My dad didn't have car insurance. We spend a lot more in monthly rotating debt. Our parents had one credit card. The greatest generation remembered the depression. We got ourselves collectively in this mess because we forgot.
The solution is to memorize anything Suzie Orman tells you and expect to live with less. I myself live in a very moderate home in the city and have a relatively safe income stream and after investing in my business still got into a financial bind. We need to collectively slow down our expectations. Live within our means plus some since we are currently upside down. So not only do we need to break even we need to put a little toward our national and personal debt.
The government needs to...gulp....tax more ( It kills me to even think that since I believe taxes are currently sooo wasteful) and cut ALL services. EVERYONE, even the really good lobbyist friends programs by 10% or more. Smaller government and larger income. By the way all of the larger income must be mandated for the debt. Period! No war, no emergency, nothing should break the mandated money for the debt. Because if there is a loophole. The lawyers in congress will find it.
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