Senior stretches income to support her son
Original post made on Jun 26, 2010
Read the full story here Web Link posted Friday, June 25, 2010, 12:00 AM
on Jun 26, 2010 at 12:25 pm
It is a 2-way deal. U.S. runs a large deficit (debt). We borrow from abroad. Wages are too high here compared to abroad (China, India, etc.). Business naturally is attracted to lower wages. We cannot have both ways and ban those countries because we want to keep higher wages here. They finance our debt... We are stuck as long as we are a debtor to those countries and play in the global markets (to finance our deficit). We can only solve this problem by becoming more aware and informed of the source of the problem not the symptoms.