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Importing Oil, Money Hurts U.S.

by Terry Savage

Q: What is your greatest concern for America's financial future?

A: On a national basis, the two worries that rise to the top of my list (among many others) are the twin dangers of our growing dependence on imported oil and on imported money to fund government spending. Even worse, we import both from countries that are not our friends. Here's a quick look at the basics of each situation.

Almost every year, the U.S. government spends far more than it takes in through tax revenue ...

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1 Comments | Post Comment
Posted by: Tom Baxter
Comment: #1
Sat Nov 7, 2009 4:32 AM

The solution is at hand. Except for a small blip during the end of the Clinton administration, the deserving 10% wealthiest American have been taking the vast majority of the increase value of economic growth. Under Bush and Obama the the bottom 90% have been loosing income and wealth while the top 10% continue the accumulating more. Not only that they are pushing debt onto the government. While they can pay their share of $50,000 - $100,000 of debt. For most it will cause immiseration, which will reduce their borrowing and consumption. This will go a long way to reducing foreign borrowing and oil imports.

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