In Soviet Russia …

In Soviet Russia …

From The Voice of Russia comes an interesting analysis of the current debt situation in the United States from a different perspective.  The headline bluntly reads, “Obama’s presidency has cost America $5 trillion”.

In Russia, however, such a headline is something to celebrate.

The article notes that Treasury officials and Democratic-leaning economics are trying to make the best of a bad situation by calling last year’s deficit “encouraging” – encouraging because it was less than the deficit the year before that.  Of course, a $1 trillion deficit is still nothing to be proud of.  The article also notes that the Romney campaign is capitalizing on Obama’s statement to halve the deficit by the end of his first term.  The article asks how long the rest of the world will put up with a bankrupt America.  Its conclusion: not long.

Ultimately, the article finds that the Treasury report is encouraging, but from a radically different, non-American, point of view – encouraging in the sense that United States’ status as a financial superpower is nearing its end.

For more, read The Voice of Russia.

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