Gloom deepens as America’s debt piles up(way over McCain and Obama's head)

Times of London ^ | 09/14/08 | Irwin Stelzer

[ovrtaxt]

I’ve got a bunch of friends from London, same thing. Their liberalism is being challenged by the encroachment of radical Muslims though.

[kalee]

to read in AM

[napscoordinator]

They should just raise the cap to one million...it is coming anyway...just do it and get it overwith. Politicians are raising it incrementally anyway. Sadly the cap will be one million soon.

[Dundee]

In Australia, how they slice the pie is shown below (to think about it in American terms, multiply everything by 16).

The federal government in 2008-09 expects receipts of $313 billion and expenditures of $288 billion. We have no federal net debt (thanks to the previous government).

We need to cut back the welfare and general government services (whatever the hell that is), boost defence, and cut taxes.

Revenue

Expenditure

[stuartcr]

Do you think that will happen?

[stuartcr]

Someone may be lieing.

[Combat_Liberalism]

Maybe. Depends on the mood and condition of the nation. I’m still voting McCain/Palin.

[Dick Bachert]

Thanks.

OUTSTANDING “ABOUT” PAGE. Very nice!!

Keep on keepin’ on.

[logician2u]

Oh, and Irwin Seltzer is a debbie downer doofus.

You need proof?

[rabscuttle385]

I’m still voting McCain/Palin.

Fair enough. Just make sure you know exactly what you're getting, and remember that Palin won't get a shot at being President until after the 2012 elections, at the earliest.

[Tublecane]

Frankly, no. If we have another mega-depression, we’ll probably leap (further) into socialism, rather than fix the real problem (i.e. socialism).

[bmwcyle]

Congress has wasted money for years and the voters are to blame.