Inside Story - US debt default deal

Barack Obama has reached an agreement with House and Senate leaders to avoid a US debt default. So is this a real remedy or a temporary patch up?

Category:

News & Politics

Tags:

• al Jazeera
• us debt
• default
• insidestory
• youtube
• aljazeera
• inside story

[youngbuck189]

Both Austrian and Chicago Schools of Economics are establishment creations which seek only to enrich the rich, subjugate the poor, and promote glorification of wealth and finance.

They are both anti-human and anti-worker, its time to put both in the dustbin and come up with a system of ideas that helps everyone and not just a select few. The peasents who advocate Austrian school are highly confused and econoically illiterate.

[MikhailRosli]

I know this joke is cliche'd but;

The 5 dislikes are from;

a) Freddie Mac,

b) Goldman Sachs

c) Citibank

d) Bank of America

e) Morgan Stanley

:)

[09geauxtigers]

I've been reading comments all over the web and it makes me sick. Everybody is blaming everbody else except themselves. The true culprits of this economic crisis is not politicians or economic advisors. Its the American peoples fault. They were the ones who continued to vote this people into office all these years. They are the ones who wanted easy money, easy credit, social programs, large military budgets, more and more sucking off the government tit. Americans ony have themselves to blame.

[HammerOvThor]

@youngbuck189 I'm a poor as fuck kid putting myself through college at the moment and I have not but a couple hundred dollars to my name. I take full responsibility for my shortcomings and that is why I succeed. I don't believe that anyone richer than me owes me anything. This kind of thinking is a cop-out from personal responsibility and is frankly disgusting. The gold standard of Austrian economics favors no one- it simply allows the more industrious to flourish.

[HammerOvThor]

@youngbuck189 Auatrian school economics are in fact COMPLETELY sound. The Byzantine Empire stood as the world center of commerce with their golden "solidus" for over 800 years, as their currency was accepted everywhere from China to Britanny and the Baltic sea to Ethiopia. They never clipped or mixed their gold coins and thus their currency remained roperly backed and stable. As for "subjugating the poor", no such thing occurs. The poor "subjugate" themselves.

[homer30]

In order for the US to recover from its debt, it will have to change dramatically their peoples lifestyle. Americans will have to live a humble, simple lifestyle and i don't think Americans are ready to do that. It will be a shocker to let go of their F150 trucks, boats, luxurious lifestyle and settle in apartments. But this is inevitable and i can see it happening now.

[homer30]

Americans need to control their eating habits, change their party-going lifestyle, buy those little battery motorcycle than those F150 Trucks, ride a transit, spend more time at home to avoid the spending temptation outside, avoid malls, READ BOOKS!!! Use cash than debits or credit cards. Constant monitoring of spending habits, never trust a bank proposals,

[ourfamilyvideos808]

@youngbuck189 If the military budget was trimmed by 80 percent--the U.S. would still spend more on defense than any country on earth. Even if military expenditures were cut to the bone like you mentioned--90 percent--it still would be the second largest--second only to China. Congress is also proposing $500 billion or so in additional reductions over ten years, so the figure could approach $1 trillion. But keep in mind that massive layoffs of military personnel will send unemployment soaring.