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According to an article I read recently, the financial problems at the national level are
only going to get worse before they better. Most of the money that we get are
borrowed from international banking organizations or freakin wealthy international
brokerages and securities firms, I believe. As it stands right now, because there is
no sign whatsoever that the economy is going to make a come back, most banks are
wary to lend us money, because a.) They'll never see it again, and b.) even if they
are hoping to get it back, interest rates are so low that everybody will all be dead
before they make it all back.
Another way to make money is for other countries to buy bonds of one kind or another
from the government, but because of low interest rates, we'll hardly make any money
off of the bonds.
Tax reduction always makes the problem worse - especially when it comes to tax
breaks for corporations, while they help the corporations, a marginal amount of profits
make their way back into the hands of the government, thereby not really helping
our economy at all, other than the fact they'll produce cheap-ass goods, and we buy
them - giving them all the profits. People complain about taxes, but the fact is, it's
the only way for a large amount of our government to pay for stuff. A tough reality
would be to raise certain taxes, so that, if anything, it'll at least keep us from losing
any more money.
Also, in response to one of the first replies, post-War economy was such
a huge success because every country on earth was broke and they
borrowed a bazillion dollars from us, all of which they had to pay back.
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"Marino could do it."
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