"US needs to get serious now about long-term budget deficits" Headlines in the Editorial. Trade deficit should be added as well! How to tackle both deficits? There is no pat answers.
"It was a sign of the times that Treasury Secretary Tim Geithner had to travel to China to reassure China, the world's largest holder of Treasury debt, that lending money to the US government is still a wise thing to do. But the European governments are more fiscally prudent for China's search for investment in global markets." Such may be a wake-up call. COMPETITION is the name of the game.
Page 6: "Obama's words resonate abroad: "May God's peace be upon you - rings with authenticity to Arabic ears." President Obama's words may ring with American ears to have good faith in terms of ethics and morality.
When Americans lend ears to President Obama with spirituality instead of over-extended material consumption,our fiscal problems may be gradually resolved. However,in the meantime,jobless folks will have to be more frugal and be trained to find new jobs with newly acquired skills via training in community colleges to become taxpayers to resolve fiscal problems. Uncle Sam needs more workers to be taxpayers to generate revenue in the 21st century.
Francis Shieh aka Xie Shihao looking forward to have peace and economic development from good peoples in all nations.AMEN!
Friday,June 5, 2009 at 10.16 a.m.
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