Nancy Pelosi, Communist?

[Riot]

Originally Posted by joeydb

They had to cut expenses. HAD TO.

Yes. I'm not saying it's easy or black and white. But history - and many economists - predicts their economy will completely crash now. We'll see (the last link above talks about the negatives). Of course, the good thing is that they will be in a far more stable financial position in the next 5 years. But let's see what is also being predicted now from this (the second link, above)

• About 490,000 public sector jobs likely to be lost

A half-milllion unemployed thrust into an economy that's already fragile.

• Over $11 billion in additional welfare budget cuts

So, will these guys just starve on the streets? It's not like they can go to work, there are no jobs

• Police funding cut by 4% a year

Hopefully they can continue to fight crime.

• Retirement age to rise from 65 to 66 by 2020

Keep working another year in that economy with no jobs.

• National Health Service budget in England to rise every year until 2015

And healthcare costs skyrockets.