--- In FairfieldLife@yahoogroups.com, "Rick Archer" <[EMAIL PROTECTED]> wrote: > > From: FairfieldLife@yahoogroups.com [mailto:[EMAIL PROTECTED] > On Behalf Of boo_lives > Sent: Friday, May 02, 2008 6:16 AM > To: FairfieldLife@yahoogroups.com > Subject: [FairfieldLife] Re: Should the rich pay MORE income tax? > > > > This may be all moot as I see no way the US ever gets close to a > balanced budget again, so we'll keep adding on the $9 trillion in debt > and someday soon, the credit karma will hit bigtime. > > And what will that look like?
U.S. will probably have to raise interest rates significantly to attract foreign money to buy its debt which will slow down economy, plus dollar will continue to fall despite higher interest rates, keeping prices of oil and food up. No telling when asians and middle easterners will start balking at buying our debt though - they have so many dollars to get rid of they keep plouging them back into the US.
