graceadieu
Posts: 1518
Joined: 3/20/2008 From: Maryland Status: offline
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I doubt either party will have the guts to cut spending and raise taxes (once the economy is healthy enough to support it), unless they're forced to. quote:
ORIGINAL: DomYngBlk Why is it important that we get our debt under control. Well, eventually people won't want to loan us any more money, and then we'll be fucked. Greece and a few other countries have had to get bailouts recently from the IMF, and are being forced to balance their budgets (cutting benefits/pay and raising taxes during a recession, ouch) as a condition of the bailout.
< Message edited by graceadieu -- 12/21/2010 10:32:23 AM >
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