For example, “What is this world coming to?” would have fit.
“We live over our means, not under it.”
“Yikes. Tough times ahead, boys and girls.”
“We just don’t want to think about it.”
“Cozy lifestyles will soon screech to a halt.”
“Bling is out. Gardens are in.”
However, writer M. Warren went with “U.S. debt threatens our future.”(Feb. 12 issue of The London Free Press)
The opening paragraph presents a big ‘but’:
"Compared to most industrialized countries Canada's economy is performing well. But our neighbour to the south, which buys 75% of our exports, is drowning in debt. This is hampering the recovery of both of our economies."
An illustration by Paul Lachine hits home:
A few key sentences colour the U.S. picture black:
“(The U.S.) is becoming the first "post-industrial" nation in the world, with an economy that is 70% dependent on consumer spending, much of it credit-fuelled.”
“The federal debt has exploded to over $14 trillion. It's now growing at $4.4 billion a day. And, it's reached 100% of GDP, or about $126,000 per taxpayer.”
“A false air of entitlement still prevails. There is an abiding conviction, even at the most senior levels of the U.S. government, that all is well, and that the "old normal' norms have returned.”
The Canadian scene doesn’t appear much better:
“Canada is a trading nation. About 40% of our GDP comes from selling our goods and services abroad.”
“If we don't move more aggressively to sell into the growing economies of the world we will soon find ourselves being dragged down into economic stagnation along with the United States.”
Really? Is it that bad?
***
Okay, sure. Please click here to view Lite news.
.
No comments:
Post a Comment