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United States: Economic Collapse Close?

February 10, 2011 Leave a comment Go to comments

Paul Bernanke paints gloomy picture

Bernanke offered his prescription for the sick US economy, telling Congrress it should not only cut govenrment spending but raise taxes, a bitter pill for Republicans, who are anti tax, to swallow and politically unpopular For most politicians on Capitol Hill who just recently voted to keep taxes low on the rich and middle class.
Economist Barry Bosworth, former top economic advisor to president Jimmy Carter says Bernanke is right, there’s no way the deficit will be cut enough to bring the US economy out of recession without imposing new taxes on the people….   READ MORE>>>>>>

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