American Bubble
Posted by lemon | Filed under Featured
Since the 2007 financial crisis, and then the financial tsunami sweeping through the world, people has been particularly sensitive about the word “bubble”, especially “housing bubble” or “financial asset bubble”. What is a bubble? It has a Is florid appearance, empty inside, and the real value is far below the surface presented. House prices fell, or investment cash has shrunk. People are counting on our government as the last savior. But if the Government is also a bubble, and how can we do?
The U.S. federal government has been a bubble. So-called “Exchequer” is full of IOU. The federal government was in debt up to 12 trillion U.S. dollars, and is in a daily rise. As for the local government, naturally, there is no better news. California, once as rich as a country, deficit has up to 200 billion dollars this year. With beautiful scenery and pleasant climate, only 800,000 residents, San Francisco’s budget deficit also has 520 million dollars. Federal government is enjoying a life depending on long-term IOU. But only a small part of the money is divided to local government. Large amount of money is for military use and medical services. Local governments rely on taxes and service charges. whenever the economic downturn comes, the only trump card is for the local government is to cut services and increase taxes or fees.
And the results of these policies: The annual reduce of funding for social services. The tuition for one year rises more than 40% percent. A large number of layoffs In primary and secondary schools and a general increase in government service charges; citizens receive more illegal parking ticket. Promises politicians made before the election is a bubble fly away with the wind.
Yesterday people living in San Francisco Bay Area as well as people in many other places of the nation went to the streets to protest the government’s cutting budget. They have been suffering the economic recession. The government once again put a burden on working people. The largest demonstrations took place in college campuses because students were suffered for their policies. For the university students, around the corner it is just a bleak future.
Procession in San Francisco
Real estate and financial bubbles have saved the federal government. local bubble however, is to afflict common citizens in the United States.
If there is anyone who is interested in hot issues happening everyday in the world, who is curious about those prominent political figures’ lives, who is yearn for leaning more about the word, here is your place. Our blog focuses on those well-known political issues and figures of all countries. It covers everything you want to learn, say, those political affairs, something behind those issues as well as the private life of those famous people.
May 28, 2011 at 12:37 am
Which was kind of inspiring! Totally unexpected. Now I do know what I’m going to complete tomorrow
[Reply]
June 1, 2011 at 12:26 am
Hi my friend! I wish to say that this article is amazing, great written and include approximately all important infos. I would like to peer extra posts like this .
[Reply]