So began my business trip to the United States, where I found other Americans to be much friendlier – but extremely worried. The first thing my airport driver said was: “Are things as bad in Canada as down here? Do you think we’re headed for a depression?” A front-page headline in USA Today underlined the reason behind his question: “The new faces of poverty: A record 46 million of us … are now considered poor, as job losses hit the middle class.” Another headline, “Federal benefits, pensions explode,” summed up the financial chasm facing the government.
Federal, civil and military public-service payments and liabilities for 2010 snowballed to $780-billion (U.S.), higher than the $690-billion cost of Social Security. The TV in my hotel room carried an ad from the American Association of Retired People: “Stop Congress from cutting our benefits – that wasn’t the deal.” Clearly, Americans are very worried about their future, and that of their country.
Read it all.
Filed under: * Culture-Watch Psychology * Economics, Politics Economy Consumer/consumer spending Corporations/Corporate Life The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- * International News & Commentary America/U.S.A. Canada
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