Greenspan said the need to start taking action is critical in light of the country's soaring current account trade deficit, which hit $550 billion last year, requiring the United States to borrow that amount from foreigners during a period when the dollar is weakening in value.

http://story.news.yahoo.com/news?tmp...ge/greenspan_9

i'd guess this article covers it.

*reposted from off-topic.

Nooooo you found the news I got it from!
My question relates to what the hell that foreign blah and acquiring of money and stuff means, overall.

the government is borrowing from foreignors (i'm guessing governments/financial institutions) due to the fact that it will equal more dollars to spend here. especially since the dollars value has been slipping in comparison with the euro and whatever other currency. think of it like your dollar being worth more in mexico or zimbabwe.

So we're so far in debt that we now have to get even further in debt by asking for more money from other countries?

yes, it is saying the economy is looking better. welcome to yesterday. however there are soaring deficits and congress has pledged to cut it in half. not has. bush's economic plan did not include this when first produced and i have not heard of a revision that has included it yet. so before posting more shit (sequentially), provide facts and preferably without your head up bush's ass. also try not to be completely inept at making a post. try grouping thoughts together. i won't even go into your lack of ability read something without adding your own meaning. you sound like a fucking cheerleader. about as dense too.

I love how JLB hijacked my freaking thread.
*Report bad post, report bad post, report bad post, report bad post*

Ahh..much better.
Now getting back ON TOPIC.


What does the thing about taking money from other countries end up doing in the end?

i'm going on educated guess here, as they don't specify who or where. but, if the government borrows say in euros, which are worth more then our dollar, they will have more money to use in our economy. then when it comes to paying back that debt, if the dollar has regained its trading value, they will be able to pay less in comparison to when they borrowed. thats the only guess i could come up with.

this is his question jlb. perhaps you could explain.

er, during clinton we had a surplus. the highest deficits have been republican. even gary here that is republican says that.

first off, answer the question he asked since you had to be a smart ass and not. secondly show me the facts. i don't trust shit from your mouth as you are biased as a motherfucker.