Crymomma

You as an American may not know this, because most US citizens are so ill informed, but you guys have been living beyond your means for years. In other words, the US has been spending more money than can be generated in taxes.

So much so that the US is now some 14+ trillion dollars in debt and this will take several generations of tax payers to pay back.

As a UK citizen it seems to me that part of your debt problem was (and still is) caused by your crazy foreign interventionist policy (years of chasing communism, a doomed system, supporting South American terrorist and dictators, something that the native peoples don't want and making deals with criminals) which has cost the US billions (if not trillions).

So now, like most countries in a downward spiral, the US is making cuts in public spending, causing both public and private job loses, in order to make a dent in the growing debt mountain.

All I can say is that most of us know what caused the world's economic problem the last time, i.e. the banks and their dodgy dealings, but the US had a debt problem was way before then. In fact, I remember hearing that the Clinton administration was worried about the US growing debt and that it would hit crises point soon.

Well, now it has.



UK Bob