deficit

Friday Movie Night - Horror Addition - The Deficits

hot buttered popcorn

It's Friday Night! Party Time!

Time to relax, put your feet up on the couch, lay back, and watch some detailed videos on economic policy!

This weeks video clip theme is focused around a new documentary, I.O.U.S.A.. It's a call to arms for Americans to demand action on reducing the deficits.

First up, the Horror:

 

New Trade Bill Introduced in the Senate

A new trade bill has been introduced in the Senate. Hopefully this will not be yet another good piece of legislation that goes to committee to die.

According to Senator Sherrod Brown's Press Release:
The TRADE ACT would:

  • Require the Government Accountability Office to conduct a comprehensive review of existing trade agreements with an emphasis on economic results, enforcement and compliance, and an analysis of non-tariff provisions in trade agreements
  • Spell out standards for labor and environmental protections, food and product safety, national security exceptions, and remedies that must be included in new trade pacts
  • Set requirements with respect to public services, farm policy, investment, government procurement, and affordable medicines that have been incorporated in trade agreements

The Economic State Of The Union -- 2008

This article is one in a series from the Manufacturing & Technology News Articles

In just the past seven years, U.S. household debt almost doubled and federal debt soared by near two-thirds, rocketing by a combined $10.5 trillion. The total combined debt of households ($14.4 trillion) and the federal government ($9.2 trillion) is now 168 percent of GDP, far higher even than in the brief spike during World War II. All other levels and ratios of debt also have soared far beyond any past precedent.

Yet, this record-shattering explosion of debt stimulus created the weakest seven-year job growth (4.4 percent) and one of the weakest periods of real GDP growth (18.1 percent) since the Depression: less than 6 million new jobs ($1.8 million of debt per job) and a mere $4 trillion increase in GDP.

An Economy Fueled, Funded and Fed by Debt

Debt, debt, an economy fueled, funded and fed by debt. That's what many economists and economics bloggers are reporting via real bona fide facts.

Via the Manufacturing and Technology Newsletter, Dr. Charles W. McMillion reports:

In just the past seven years, U.S. household debt almost doubled and federal debt soared by near two-thirds, rocketing by a combined $10.5 trillion. The total combined debt of households ($14.4 trillion) and the federal government ($9.2 trillion) is now 168 percent of GDP, far higher even than in the brief spike during World War II

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