Originally Posted by BigRedChief
Austerity is working out great for Britan. Borderline triple dip recession and just got their credit downgraded. Going to cost them BILLIONS is interest.
Seems to me that those BILLIONS that England is going to piss away in higher interest rates would have been better used in numerous other options. We had better learn from Britain or expect the same.
Which is a laughable concern considering we throw away $400-$500 billion dollars a year just on interest to our debt and projections have it closer to $1 Trillion dollars in 10 years. Imagine how much better that money could be used in other options.
The difference between us and England is they've waken up quicker than us and at least tried to address the problem.
Our chimps in charge keep lying to the public for political gain.