Many countries are waiting for USA to solve their economics problems, especially Europe. I hope that unemployment it will soon be solved, so the economy get back on track, in the whole world.

@Living
I believe it is USA’s fault. They have spent a lot of money sustaining their troops in the Middle East and the so-called “war against terrorism”. Those soldiers need to be fed, the vehicles maintained etc. And all the money comes from the US residents, the tax payers.

Our Economic problems have absolutely nothing to do with the Military budget and spending. Believe it or not, it all began back in the late 1970’s with former President Jimmy Carter, when he allowed Community Organizers and groups such as ACORN to force Banks and Mortgages companies to offer Sub-Prime rates to people who could not afford housing.

Often times, these are the same people who have problems paying rent for apartments (flats). This is a Democrat/Liberal idea, and are encouraged by the mentioned political party. Where the Republican party continue in trying to abolish this practice.

Therefore those who were getting Sub-Prime rates were paying under 5% for a very expensive loan, whereas those of us who are responsible fiscally were paying between 6.5% up to the high of 21.1% for the same amount of money borrowed.

My wife and I bought our home and financed $184,000.00 for 30 years at a Mortgage rate of 11.2%, then re-financed it when the rates dropped to 7.1%, and were able to pay off the entire Mortgage in 12 years, by paying on the back side of the Loan.

The hundreds of thousands of lower income people each year buy homes they could not afford, even at much lower rates. Within six months most all had defaulted on their loans, and were evicted. Most could not even afford their monthly utilities, but they were all driving new expensive automobiles, and had all the best electronics.

This caused the Banks and Mortgage companies to absorb all those losses, each and every year they were allowed.

Barack Hussein Obama helped to create these Community Organizers, and is part of ACORN Housing for the lesser wage earners, even many who are on the Government dole.

This is when the Banks and Lending Companies began failing. That is when President Obama acquired the $787 Billion Dollar Stimulus money. It was meant to be “loaned” to the failing banks and such, but instead took ownership of them, thus Nationalizing several large banks and Lending companies, and funneling money into them, with an option for those failing banks and loan companies to pay the Government back.

But while they were part of the Government, Obama’s team allowed them to pay huge Multi-Million dollar bonuses to many of their employees.

So far Obama has spent 1.5 Trillion dollars and has nothing to show for that spending. He has been paying the US Bills to foreign nations by printing money we do not have. He has also by printing new money has tried to monetize our debt. That only amounts to robbing Peter to pay Paul.

Obama now wants to raise our Debt Limit, which has been at $12 Trillion Dollars for quite sometime by another $2 Trillion as there is only $630 Million Dollars left before it hits the Debt Ceiling.

Now he is spending Trillions more on converting our Health Care system to Government Run Health Care, of which the majority of Americans do not want. The Liberals in this country have forgotten they work for the People of this Country.