Recession MkII

Discussion in 'Current Affairs, News and Analysis' started by Commissar, Jul 31, 2011.

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  1. So, with just under a week to go before the world's biggest economy defaults on its debts.

    What do we think about the prospect for the US of A, the so say "Greatest country in the World", potentially dragging us into another recession because of some far-right tea party nuts who don't want to pay any taxes?

    Or do people still hold hopes that Obama will get his compromise deal?
  2. They'll cut a deal. It's an elaborate game of chicken. Nobody will risk default.
  3. ugly

    ugly LE Moderator

    No comments from the US members? I know a few libertarians and they certainly would rather the Govt kept its nose out of their business and hand out of their pockets but you cant build a great nation without subscription at some level yet cutting taxes does encourage growth.
  4. Might actually end up being good for US and the rest of us - it might reign in their playground politics for a while and also focus US civpop's attention on the reality of the economic situation.
  5. People forget the US is a federal state. UK is increasingly going that way both with UK devolution and EU membership. Bet our taxes don't change as a result.
  6. ugly

    ugly LE Moderator

    We are already a federal minion of the EU Soviet. Taxes will change but only going upwards!
    • Like Like x 1
  7. Yep. We spent crippling sums first defeating insane, needlessly aggressive nations (Germans, Vichy, Italians, probs include the Scottish and Irish in that too) then spent crippling sums subsidising them and stationing huge military garrisons on them to prevent others overunning them.