Quote:WASHINGTON – It's bad enough that Greece's debt problems have rattled global financial markets. In the world's largest economic and military power, there's a far more serious debt dilemma.

For the U.S., the crushing weight of its debt threatens to overwhelm everything the federal government does, even in the short-term, best-case financial scenario — a full recovery and a return to prerecession employment levels.

The government already has made so many promises to so many expanding "mandatory" programs.

(02-14-2010 02:42 PM)Owl 69/70/75 Wrote:  Obama's goal of doubling exports is a good one. Unfortunately, he has proposed absolutely nothing that will contribute in any meaningful way to the achievement of that goal.

(02-14-2010 02:42 PM)Owl 69/70/75 Wrote:  They're only talking about half the problem.

Our balance of trade deficit is about as big as our federal deficit (a little less right now with the econmic downturn, but potentially more if we get the budget under control at some point). That has to be financed offshore in some respect. When I import goods from China, at some point I have to pay somebody in China.

Obama's goal of doubling exports is a good one. Unfortunately, he has proposed absolutely nothing that will contribute in any meaningful way to the achievement of that goal. Certainly nothing even remotely approaching the adverse effects if cap-and-trade and card-check pass, or if we don't start supplementing his green energy initiatives with something that will actually reduce oil imports.