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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (557407)	3/29/2010 2:20:19 PM
From: Brumar89	Respond to of 1576426

Thanks Barack… 10 Year Outlook for Nation’s Deficit Has Deteriorated By $8 Trillion Monday, March 29, 2010, 6:08 AM Jim Hoft The 10 year outlook for the nation’s budget deficit has deteriorated by $8 Trillion. Americans are likely to witness tax increases to close the budget deficit gap. CNBC reported, via Free Republic: Many Americans know the deficit has exploded this year. What may be less well-known is that the problem is not confined to this year or next, but stretches out at least a decade and represents a historic, multi-trillion-dollar change in the country’s fiscal fortunes. CNBC, working with the Congressional Budget Office, found that the 10-year outlook for the nation’s deficit has deteriorated by almost $8 trillion. In effect, every man, woman and child in the United States has taken on an extra $25,000 in debt, CNBC has learned. Comparing the CBO’s outlook in 2008 to the current forecast, CNBC found that what was once a projected $247 billion surplus for the years 2009 through 2018, is now an estimated $7.4 trillion deficit. What caused it? According to the CBO, 57 percent of the increase was caused by the decline in revenues, of which a vast majority resulted from the agency’s outlook for the economy. Specifically, Social Security accounts for a huge part of the revenue change. According to the network’s analysis, Social Security was expected to show a $2.3 trillion surplus over the 10-year period from 2009-2018. However, new figures show that if a surplus for the agency will exist at all, it is projected to be just over $1 trillion. Adding to the deterioration is a range of expenses and methodology, including the stimulus bill, a change in accounting for the war, extended unemployment benefits and additional interest on debt. Federal Reserve Chairman Ben Bernanke highlighted deficit concerns in his Congressional testimony on Thursday, saying that Americans are in for tough, unpopular changes, such as tax increases, to close the deficit gap. Greenspan also warned that the nation faces a mountain of debt that it “has never seen before.” gatewaypundit.firstthings.com

To: RetiredNow who wrote (557407)	3/29/2010 2:52:51 PM
From: tejek	Read Replies (1) \| Respond to of 1576426

This isn't a problem with solar or alternative energy specifically, though. What it points to is a problem in the currency manipulation of China, which makes their goods cheaper. Then of course, there is their unlimited supply of cheap labor. That's not something we will be able to compete with unless we have an immigration reform that allows masses of Mexicans to enter our labor force with a path to citizenship. So once again, I think we can solve those problems and even compete with India and China on labor, but we don't have the political will do so. That will mean all sorts of manufacturing jobs will continue to get off-shored, including those in alternative energy. Its not just the manipulation of the Chinese Yuan or cheap labor, its that everything is cheaper in China right now......materials included. That's offset by shipment costs to the US which, in turn, is offset by the lesser weight of the panels themselves. The same is not true for turbines. Because of weight and size issues, its cheaper to build them here than have them build in China and then shipped to the US. So isn't it better to concentrate our resources and focus on setting up turbine plants here where we have the advantage and let China have the solar manu.? Just a thought.