Thursday, 21 July 2011

Americans were plunged into the financial meltdown a few years ago, brought on by the excess and readily available credit that the US has been living on for several decades. And many Americans have now had their wings clipped, and have been stripped of their borrowing capacity by the banks.

But at the same time, the US government has been borrowing consistently, while reducing its revenues through tax cuts for the wealthy and tax loopholes for businesses.

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