D.C.

Well, the latest report from europe is that although those countries have been in the same recession as we have, they have a new problem. A good number of them are about to default on loans due to the inability to repay debt from years of massive spending. They are, in my opinion, socialist countries that spend, spend, spend feeling it is the job of big government to control everything and just tax the citizens to pay for it.
Well they are taxed about as much as they can be and the unemployment rates are above their traditional level of 10-12%. Now they have so much debt from being on spending sprees that they may not be able to pay it off which will of course collapse their economies and since everyone and everything on the planet is connected we will feel the shock waves as well.
But, not to fear. Our president has been on a mission to spend more than all of europe combined with his BIG government, BIG spending inititives. We are already so far in debt that our grandchildren will not be able to pay it off. Of course he has his team trying to tell us that they will spend now and cut back later to get the deficit (1.6trillion in the new budget) and the national debt down. When has the federal government ever been able to control itself. They set themselves up for obligations they can not meet.
I will say it again here as I have said before. Our unempoyment rate is going to stay above 10% into the distant future and spending by washington, if left unopposed, will continue to increase each and every year. It is a world economy and America is now locked in with the rest of the world where unemployment is routinely above 10%.
We have had to have the latest everything at the cheapest price and wonder why there are no jobs when we demand high pay. How much do you expect to make an hour building $99 dvd players. So it gets outsourced to asia.
Toyota has spent so much time and money convincing americans that they are the best and now we find that they too are capable of cutting corners with total disregard for customers safety. A lot of americans have spent the last 10-20 years carrying the japanese flag and now see how upset they all are now. They could have very likely put all american auto companies out of business and think what thing would be like right now if that would have happened.
Think about it.