by m-a.soucisse on October 23, 2013 - 10:56pm
The Obama administration has contributed to the biggest debt in American history and has put the economy in a tight spot. Some say that in order to make money, you have to spend it. The U.S took this principle to the test to many times and they’re apparently not done testing.
The American government will invest another half a billion dollars to pay Palestinian mortgages and support small businesses in Palestine. Because yes, the U.S as already invested a shocking four billion dollars in U.S currency. Even with this extra money, Palestine hasn’t managed to get in a better economic position. Unemployment is above 20%, personal debt as doubled since 2008 and risen by 40% from 2011 to 2012 and interestingly enough, Palestine also has a mass budget deficit. The International Monetary Fund as labeled Palestine “increasingly precarious” and a very uncertain market. The worst part is that the U.S wished to spend four billion more (which would add up to eight billion in total) for political concessions. No wonder they can’t balance a checkbook!
My biggest issue with the U.S government is that they spend more and more, without really thinking in what they’re investing. They’re literally shredding money bills. The money spent in Palestine is lost forever. How can you expect a country to generate profit in such a bad climate? Palestinian businesses are being untrustworthy with their loans and don’t pay their mortgages to the government. If the government isn’t paid, they won’t be able to invest properly. So instead of making sure people pay up, they just have to sit and wait for the U.S and other countries to help. Isn’t that no helping yourself, but all the other countries? Palestine has potential, but right now it’s a dead end like Greece and Italy. The U.S should invest in booming markets like India, which is expected to soon become the world’s third best economy. Americans just can’t stand it anymore, and it’s understandable. Obama’s plan was a glimmer in the darkness of the rat pit that the Bush government threw the U.S in. This plan turned out to be a failure and according to me, Americans are right to be mad about 12 years of bad politics. The video linked to this article shows an American rant, its crude, but it shows the frustration and sums up pretty well what the U.S is going through.