U.S. on borrowed time, borrowed money, borrowed energy
If anyone has traveled to another country lately realizes that the U.S. dollar doesn’t buy what it used to. Americans had the luxury of purchasing more goods in foreign countries at a lower price than in America. What is the reason? The value of the dollar was worth more compared to the euro and the yen a few years ago, and has been declining since. Foreign investors are now looking to the U.S. to invest and buy products just like we were looking in other countries just a few years back. The price of oil is now costing more with the rise in prices and the declining dollar. What can we do to stop the dollar from falling? If the government raised taxes and cut spending on oil then we could slow the dollars fall and help the deficit. In the article U.S. on borrowed time, borrowed money, borrowed energy , the Bush administration says they are not going to raise taxes, cut spending or reduce oil consumption in ways that could really shrink our budget and trade deficits and reverse the dollar's slide. If we don’t do something, who knows what will happen.
Posted by rico at 2/28/2005 12:38:00 PM