(Login Nafana) Forum Owner Posted Jul 1, 2012 9:20 AM
Well I think the effect of the European debt problem on the US economy is being exaggerated. It may worry investors who hold foreign investments but the amount of commerce between the US and Europe is a small percentage of our economy as a whole.
And from what's I've read Social Security is solvent to 2027 even if without changes and I'm sure changes will be made that will keep it viable. Its going to take sacrifice on everyone's part to get us back on track. But so far the only people who are sacrificing is the poor and middle class. The rich continue to make outrageous amounts of money while paying the lowest tax rates in history. It just amazes me that so many people have bought the Republican bullshit that taxing the rich will hurt "job creation". It just isn't true.
And there is hope- I've read that Chinese workers salaries are rising much faster than expected so the cost benefit of manufacturing overseas is shrinking and many of those jobs may be coming back to the US in coming years. But it will mean higher prices- and not the over-generous salaries and benefits of the past. We are going to have to roll back our living a notch- but it may be good for us to get back to simplicity of the past when a typical family managed fine with a modest house, one car, one TV, and so-forth. I think we agree that life was pretty good back then.