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<p>Understandable, but you really propose ignoring substantial evidence that is readily available which supports such claims?
…
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<p>I take this back, my apologies. Under Truman in the forties the national debt hit around 120% of GDP spent mainly on WWII. Adjusted for inflation this would be around 10 trillion today.</p>
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<p>I urge you to take a look at this article. (PLA) Senior Colonel, Liu Mingfu, a fifth ranking officer in the Chinese military has a few interesting things to think about in his latest 303 page book.</p>
<p>[China</a> PLA officer urges challenging U.S. dominance | Reuters](<a href=“http://www.reuters.com/article/idUSTRE6200P620100301]China”>http://www.reuters.com/article/idUSTRE6200P620100301)</p>
<p>““I’m very pessimistic about the future,” writes another PLA officer, Colonel Dai Xu, in another recently published book that claims China is largely surrounded by hostile or wary countries beholden to the United States."</p>
<p>“I believe that China cannot escape the calamity of war, and this calamity may come in the not-too-distant future, at most in 10 to 20 years,” writes Dai.
“If the United States can light a fire in China’s backyard, we can also light a fire in their backyard,” warns Dai.”</p>
<p>“Turn some money bags into bullet holders.”</p>
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<p>[Recession</a> Continues to Batter State Budgets; State Responses Could Slow Recovery — Center on Budget and Policy Priorities](<a href=“http://www.cbpp.org/cms/index.cfm?fa=view&id=711]Recession”>http://www.cbpp.org/cms/index.cfm?fa=view&id=711)</p>
<p>These new shortfalls are in addition to the gaps states closed when adopting their fiscal year 2010 budgets earlier this year. Counting both initial and mid-year shortfalls, 48 states have addressed or still face such shortfalls in their budgets for fiscal year 2010, totaling $196 billion or 29 percent of state budgets — the largest gaps on record.</p>
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<p>[Employer</a> Health Benefits Survey Archives - Kaiser Family Foundation](<a href=“http://www.kff.org/insurance/ehbs-archives.cfm]Employer”>http://www.kff.org/insurance/ehbs-archives.cfm)</p>
<p>1999 Survey.-
“Despite lower health care inflation and the best economy since the 1960s, the percentage of
Americans with job-based insurance has barely risen since 1993, and is lower today than it was 10 years
ago.”</p>
<p>2004 Survey-</p>
<p>“the survey also found that
the percentage of all workers receiving
health coverage from their employer fell
from 65% in 2001 to 61% in 2004.”</p>
<p>2007-
“Sixty percent of employers offer health benefits in 2007, similar to the 61% offer rate reported in 2006 but lower than the 69% offer rate in 2000.”</p>
<p>See a trend? This also ignores quality of coverage, the fact that premiums have increases 131% since 1999 and that employee contributions have increased by 128%…
</p>
<p><a href=“http://www.federalreserve.gov/pubs/bulletin/2009/pdf/scf09.pdf[/url]”>http://www.federalreserve.gov/pubs/bulletin/2009/pdf/scf09.pdf</a></p>
<p>Credit Card Debt-
“Overall, the median balance for those carrying a
balance rose 25.0 percent, to $3,000; the mean rose
30.4 percent, to $7,300. These increases followed
slower changes over the preceding three years, when
the median increased 9.1 percent and the mean
climbed 16.7 percent (data not shown in the tables).
Over the recent period, the median balance rose
strongly for most demographic groups,”</p>
<p>Holdings of Debt-
“The share of families with any type of debt increased
0.6 percentage point, to 77.0 percent over the 2004–07
period (first half of tables 13.A and 13.B, last col-
umn), and has risen a total of 2.9 percentage points since the 1998 survey”</p>
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<p>[Income</a> Inequality Is At An All-Time High: STUDY](<a href=“HuffPost - Breaking News, U.S. and World News | HuffPost”>Income Inequality Is At An All-Time High: STUDY | HuffPost Impact)</p>
<p>“Income inequality in the United States is at an all-time high, surpassing even levels seen during the Great Depression, according to a recently updated paper by University of California, Berkeley Professor Emmanuel Saez.”</p>
<p>“Though income inequality has been growing for some time, the paper paints a stark, disturbing portrait of wealth distribution in America. Saez calculates that in 2007 the top .01 percent of American earners took home 6 percent of total U.S. wages, a figure that has nearly doubled since 2000.”</p>
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<p>[The</a> U.S. Trade Deficit: Are We Trading Away Our Future?](<a href=“http://www.epi.org/publications/entry/webfeatures_viewpoints_tradetestimony/]The”>The U.S. Trade Deficit: Are We Trading Away Our Future? | Economic Policy Institute)</p>
<p>authored by: Robert E. Scott is an economist at the Economic Policy Institute. He specializes in globalization and international trade issues. – Perhaps outdated, but the picture is more bleak now than at the time written…</p>
<p>“Since the 1970s the U.S. moved from a trade surplus to a deficit position, as Europe and Japan began to compete effectively with the U.S. in a range of industries. There are many ways in which trade has injured U.S. workers since then. First, deterioration in the trade balance (the difference between exports, which create jobs, and imports, which eliminate domestic employment) has reduced employment, especially in manufacturing and other industries producing traded goods”</p>
<p>“The growth in the trade deficit over the past two decades has destroyed millions of high-wage, high skilled manufacturing jobs in the U.S., and pushed workers into other sectors where wages are lower, such as restaurants and health service industries. When I appeared before this committee last spring, I summarized EPI forecasts that the Asia Crisis would lead to the elimination of one million jobs in the U.S., with most of the losses concentrated in the manufacturing sectors of the economy (Scott and Rothstein 1998). These job losses have begun to materialize, despite the continuing boom in the rest of the economy. The U.S. has lost nearly 500,000 manufacturing jobs since March of 1998, due to the impact of the rising trade deficit. [2]”</p>
<p>China-
“China’s trade policies are modeled on Japan’s, in many ways. Government ownership and control of the majority of economic resources, and an extensive network of government controls over banking, economic activity, trade and foreign exchange flows have combined to create the U.S.’ most unbalanced bi-lateral trading relationship. U.S. imports from China are five times as large as exports to that that country. Even at its most extreme, the U.S.-Japan trade imbalance never exceeded a three-to-one ratio.”</p>
<p>Results on Income Distribution-
“Most economists now acknowledge that trade is responsible for 20 to 25 percent of the increase in income inequality which has occurred in the U.S. over the past two decades.”</p>