Posted on 03/07/2009 2:46:40 AM PST by 2ndDivisionVet
The stock market has plunged to its lowest point in decades, unemployment is up, and home foreclosures are sweeping the country. Still, Americans think it can get even worse – a lot worse. Fully 61 percent of Americans think it is possible the United States government could literally go bankrupt. That’s according to a new Fox News poll released Thursday.
And what about the billions of dollars the government has spent since last fall to get the economy back on track? Many Americans think its simply not working: 44 percent say “things would be the same as they are today or even better” without the spending, while 38 percent think “things could have been a lot worse,” without the spending. Another 14 percent think it is too soon to tell.
Some 60 percent of Americans now describe themselves as confident “about the future security of your job,” down from 64 percent in September 2008 and 82 percent in October 2007.
Lower earning workers are the least confident in their job security. Nearly half (45 percent) of households with annual incomes under $50,000 are confident in their job security, compared to 70 percent of higher earning households.
Opinion Dynamics Corp. conducted the national telephone poll of 900 registered voters for FOX News from March 3 - March 4, 2009. The poll has a 3-point error margin.
Even with these growing concerns about financial stability at the national and household levels, most Americans remain optimistic that the policies of President Obama will provide some relief.
A 63 percent majority of Americans believe Obama’s priorities and policies are more likely to “significantly help the country,” while 25 percent believe they are more likely to “seriously harm the country.” Democrats nearly unanimously (90 percent) believe Obama’s policies will help...
(Excerpt) Read more at foxnews.com ...
This will start world war 3. Most US debt is held by foriegn countries. Including some with NUKES. Defaulting on that debt will create the final conflict.
Revaluing the base assets, such as gold, could yield a greater abstract valuation for the paper. The problem with that is they are printing too much. Thank You Congress.
Had to dump the “oldspeak” (truth). They gave me these vouchers for a nice shiny thing... ;)
Yeah -but it is the stupid ignorant public-school educated voters who keep them in office!
Did anyone vote those Ivy League genuises into Wall Street? As long as we’re on the subject, I’m sure most of the Ivy League (& the rest of Academia) go gaga for Obama and the Dems too.
I can’t disagree with not supporting the welfare state or anything else 0 may throw at us, but I think we need to hold off on the drastic measures until the economy gets headed in the right direction.
How can the US not default?
Logically, there is no way the principle can be repaid. The point will soon be reached where the interest on the debt cannot be paid. How long after that occurs will it take for our creditors to openly acknowledge it? When they do, down comes the house of cards. We could see genuine anarchy.
I agree. It’s a bigger house of cards than the banking, lending, mortgage buying house of cards. It is a pyramid scheme.
Dude, (yeah I’m duding you chief, the author not the poster), WE ARE BANKRUPT.
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Is that why I have never seen a Chart of PROFITS drawn as to total DEBT ??
There really are No Profits ? Recall a college prof who hated that question.....
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