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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction
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To: Rainy_Day_Woman who wrote (25784)1/10/2005 5:46:34 PM
From: sea_biscuit  Read Replies (2) of 90947
 
When manufacturing jobs were lost, Americans "adapted" by going in for service jobs, which, on average, paid less. Any shortfall of income was made up by racking up the credit card debt. And then, when even many of the service jobs (e.g. call center jobs) are being lost, comes Greenspan with his housing bubble. People are borrowing against their houses to maintain their standard of living.

This is not a sustainable state. But then many folks (including Fed Government, and state governments like that Boobengrabber Arnold's California) think that they can borrow their way out of a fiscal crisis. All this will come to a head sometime during Dumbya's second term. And that will coincide with the maximum level of disillusionment with Iraq, which, of course, is another disaster in the making.
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