Re: Was 9/11 George Bush's fault?
<div class='quotetop'>QUOTE (Hang Eleven @ Sep 15 2006, 08:48 PM)
<{POST_SNAPBACK}></div><div class='quotemain'>There never was any recession. Ford laying off workers doesn't mean it's going down...although in this case it might. Laying off workers in some cases is actually good. Not to mention that Ford doesn't represent the whole car industry, much less the whole economy.</div>I understand that Ford doesn't represent the whole economy - I wasn't saying that at all, I was giving an example of the things that are happening because of the recession. Also, Ford IS going down, and Laying of workers in this case ISNT good. They are laying off workers because they need to cut down on payroll - they are restructuring Ford as a whole with the hiring of the new CEO Mullali (who was the former Boeing CEO when it was at its worst)...now Boeing is the top commercial planes in use...so the reasoning for hiring Mullali was to basically do what he did with Boeing since they are in very similar situations. Back to the economy...yes we are in a recession, and it IS the worst recession we've had since the depression. Our federal deficit is at its highest it has ever been at $8,530,679,432,359.21...and increasing on an average of 1.7 billion per day! Most of you on this site can't even say that number. (Eight trillion, five hundred and thirty billion, six hundred seventy nine million, four hundred thirty two thousand, three hundred fifty nine dollars, and twenty one cents!) How is that deficit going to be paid back? It's coming out of our pockets when we get jobs and a family in the form of taxes...! In the history of the United States, deficit has never been this high... when President Andrew Jackson was in office the National Debt was paid in full, in the 20's there was no debt, there was a surplus for 10 consecutive years! Starting the 1930's, the United States ran a deficit, this deficit continued all the way to the 1990's where there was another economic boom...we actually had a surplus of 240 billion dollars! (Around the Presidency of the Clinton era), when our best friend George W. Bush came in office he used up all of our surplus, and raised our defict to what it is now...this is just one sign of a failing economy. The deficit we have now should be going down because economists are prediciting the economy to improve in the coming 3 years...but it definetly won't cover over 8 trillion dollars. It's estimated with todays deficit, each citizen will be paying approximattely $30,000 dollars in extra taxes to pay of the debt...scary. You may be saying why doesn't congress do anything to stop this...well everytime the President requests some money for something (usually for the war), they always grant it - that means the deficit cieling increases everytime...our new cieling is 8 trillion 900,000,000...that won't stop the spending though, because war is very expensive. By the way something very important to know...the difference between deficit and debt

eficit is like say you make 80,000 dollars a year, but your expenses are 100,000 dollars a year...this means you have a deficit of 20,000 dollars; in that case a person might need to take out a loan from the bank to pay off that 20,000 dollars that we owe...this 20,000 generates a debt...with interest. In a national perspective, the United States makes X dollars every year from Taxes, and revenues, but spends more than X dollars....this is makes our deficit 8 trillion dollars because we are spending more than we make...the United States is than forced to borrow from other countries...we can also borrow from the World Bank...or we can even borrow from ourselves...so the United States can take out money from other services like environmental spending to pay for other things... so thats how it works....something funny I found is that the government is accepting charity from the public, they ask if you would like to reduce national debt please send money to: (and they give you their address) - here it is if you ever feel like helping

President Bush said that he expects to pay back the federal deficit by the year 2012 with his program, other's like Mr. Al Gore expect that it won't be payed until 2016...)ATTN DEPT GBUREAU OF THE PUBLIC DEBTPO BOX 2188PARKERSBURG, WV 26106-2188 lol. pretty sad.So basically, YES we are in a recession, the worst it has ever been. Thank you for reading my little history/economics lesson. lol.