TheRealMafoo on 30 April 2009
| SamuelRSmith said: Isn't the US's growth rate typically 2.5-3%? If so, that would mean that the US's economy has basically just dropped two years of growth in three months. Unless, of course, the article is referring to a 6.1% decrease from Q1 last year, and not from Q4. |
This is the real scary part.
The reason, is our government over the last 20-30 years has spent more money than it has collected. While the deficit has grown, our GDP has grown along with it to help reduce the impact of our losses (or at least mask them).
We can no longer rely on that growth, but not only are we not spending less to compensate for it, the Senate just past an insanely expensive 2010 budget.
One day… soon… this is all going to come crashing down, and it’s going to make the little recession we are in look like child’s play.
Apparently, we as a country don’t know how to stop spending until we start starving to death.
