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Posts Tagged ‘GDP’

Everybody believes that the political gridlock in D.C. is preventing any real discussion to solve this country’s gross federal deficit. My idea in getting everyone to the table and start talking solutions is to garnish congressional wages at a level equivalent to the Gross Federal Debt/GDP ratio. So, if the Gross Federal Debt is 90% of the GDP, members of the U.S. Congress will have 90% of their wages garnished. And when the ratio is greater than 100%,  members of Congress have to pay out of their pockets the difference. Unfortunately such a law would never pass. Congress has never voted against its best interests. And right now, its best interest is to stay in power on our dime, or in today’s equivalent, our dollar.

 

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Recession: A period of general economic decline; specifically, a decline in GDP for two or more consecutive quarters.

Bad news for those waiting for a recession, it’s not here yet. Sorry.

http://biz.yahoo.com/ap/080731/economy.html?.v=19

~’Chuck’

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