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Japan Plunges Into Deep Recession; GDP Shrinks 3.5% Annualized

dfrum Wrote: Nov 13, 2012 4:43 PM
I would like to see the GOP make a point of repealing Medicare Prescription or raise revenue to PAY for it. That is the fiscally conservative thing to do. Also some revenue mechanism needs to be put in place to pay for all the costs incurred in Iraq and Afghanistan. I'm sick to my stomach that so many Americans sacrificed and died over there while 99% of Americans simply watched it on TV, enjoyed a tax cut and went shopping.
Fuzzy2 Wrote: Nov 13, 2012 5:23 PM
Let's just think about your little plan, shall we?

We are $16 trillion overspent now. So we first have to collect $16 trillion (before the end of next year) just to break even. Follow me so far? We still haven't collected one cent toward Medicare Prescription drugs yet. So in 2014, we have to raise an additional trillion just to cover the deficit spending for that year. then we can focus on however many billions we need for Medicare Prescriptions. Follow this cycle each year ad infinitum.

Otherwise, you can tell us what spending needs to be cut in order to erase the current 16 trillion debt and eash successive year's trillion dollar additional debt.
Fuzzy2 Wrote: Nov 13, 2012 5:25 PM
Or how about you just pay for it and I won't demand our government take money from you to pay for my personal assistant I could use?

The global economy took another turn for the worse as Japan plunged into recession following two consecutive quarters of growth.

Please consider Japan’s economy shrinks annualized 3.5%.

Japan’s economy shrank an annualised 3.5 per cent between July and September, the steepest decline since the earthquake-hit first quarter of 2011, as exporters suffered big falls in shipments to key markets such as China and Europe.

Prime Minister Yoshihiko Noda described the gross domestic product figures as “severe”, while Seiji...

Related Tags: GDP