Deficit

The Afternoon News: Thursday, Nov. 17, 2011

Santorum: Occupy Wall Street Protesters Have A 'Legitimate Point', 'Occupy' Protesters March On New York Stock Exchange, Occupy Wall Street November 17: Journalists Arrested, Beaten By Police, 'Orchestrated' Arrests In Downtown L.A. Protest, Police Say, Deficit Talks Shift Toward Blame Game, GOP Supercommittee Members' Tax Plan Gives Party An Identity Crisis, Vatican Objects To Pope Kissing Imam Advert.     

More than Dollars and Cents

America’s increased spending, revenue shortfall, and the resulting structural deficits and mounting debt burdens are not just an economic challenge; they represent an ethical and moral challenge as well.

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Sojourners Magazine September/October 2010
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Taming The Beast

The main cause of our ongoing economic crisis—which is perhaps finally starting to slowly wane—is too much private debt. After the elimination of financial-industry regulation by Republican and Democratic governments, Wall Street got rich by acting as a middleman, lending Asian and Middle Eastern money to people who could not possibly repay their debts. Borrowers—workers with stagnant or declining incomes—bought too many houses, cars, big-screen televisions, and other toys that they really could not afford. The festival of mindless, unsustainable lending ended in global economic collapse.

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Sojourners Magazine August 2010
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