Re: tractor prices the economy for this year

Posted by NEsota on March 16, 2005 at 08:26:52 from (4.159.162.91):

In Reply to: tractor prices the economy for this year posted by havvey on March 15, 2005 at 06:39:17:

havvey, When this administration took over we had had budget surpluses, i.e. our government had been taking in more than it was spending. There were then tax cuts and spending was increased to the point that for several years our government has spent more than it has taken in, that creates deficit. A household that spends more than it takes in will in time, most likely will get into trouble, so will a nation. With any explosion or implosion it is probably imposable to know exactly where or when something is going to come apart and where the pieces will land. It is reasonable to predict that when you put too much in or take too much out, things happen. It is like a fuel-air mixture the engine will run when it is off a little but if it gets off enough it means trouble.

Volcker is the most respected financial person that I know of who has made such a dire prediction and he was not very specific. We know that the world has become much smaller and more interdependent. We in the U.S. have been spending natural resources too fast and living high for a long time. The competition will get tougher for us and we need to make better choices about what really matters.

GDP, Gross Domestic Product is the value of all the goods and services produced in the U.S. per year. In 1978 the U.S. was owed money equal to 9% of GDP. Now the U.S. owes the rest of the world 27% of GDP. Never has a country of our size been so indebted

Disclaimer: I have never had a course in economics and was on academic probation most of my time at Peru State.

Follow Ups:

• Re: tractor prices the economy for this year havvey 11:51:37 03/16/05 (1)
  • Re: tractor prices the economy for this year NEsota 19:25:15 03/16/05 (0)

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