$1.42T is less than Obama forecasted in February (2009?)
By ruperto
@ruperto (1552)
Philippines
October 16, 2009 9:35pm CST
I am no expert on the economy. But the US deficit mentioned could be a huge issue.
Instead of posting my opinion, may I openly ask:
1. Could this be caused also by the overall increase in prices of commodities and services worldwide?
2. Could this be also caused by the emergence of new economic tigers like China and India etc. i.e. countries that seem to be "selling more and better for less" ?
3. Could the role of enforcing global balance be transferred to country other than the U.S.? (to stop the overuse of budgets)
There are many experts out there. Please enlighten us with your brief insights ;)
(out of 100 mylotters, only 1 will read a long response, I think :) )
Cheers
1 response
@scheng1 (24649)
• Singapore
17 Oct 09
US used to have surplus before they go on a spending spree. I guess taking part in war is a great expenditure, and that has nothing to do with China or India.
Since the whole nation is spending more than what they earn, it is not surprising to see budget deficit.
If the US government had used the surplus to create sovereign fund and buy companies all over the world, such as the China, Middle East and other sovereign funds have done, the US will be richer.
