Money, money, money…

Nothing but bad news coming out of the US and EU.

In the US, the supercommittee (eek!) has naturally failed to reach an agreement on the US’ debt crisis problem.

Basically, the Dems want to raise taxes whilst the Reps want to slash spending, and each side isn’t willing to give into the other’s demands.

Automatic cuts embedded in the legislation that formed the supercommittee will take effect next year if an agreement still isn’t reached by then.

And the EU is still up the proverbial.

Here’s a handy interactive to see who owes what to whom over there. Note that the US isn’t in nearly as much trouble as some of those EU countries.

Some background info on the dilemas facing the EU. Here also.

Closer to home – and sure he’s not the Right’s favourite commentator – but David Koch takes a shot at explaining why the EU is at where it’s at: tax evasion; corruption; the black economy; bloated public service; and government debt… plus a few other problems.

Meanwhile xkcd’s Randall Monroe has been frittering away the hours making a massive money chart showing – mainly in the US – who has what, who has not, and where all the money is coming from and going to. It’s mind-boggling.

  1. Slight correction – the Repubs do not want to slash spending (no one is even suggesting that except Ron Paul). They want to slash the rate of growth of spending.

    FYI – Climategate II is blowing up around the blogosphere. When you wake, it will be for a fun time!

      • Sean of Deer Park
      • November 23rd, 2011

      Oh, dear! The gift that keeps on giving…

      Bolta will have an in depth round-up later on, no doubt. 😆 I’m lov’n it.

      • Aha! Thanks, boys.

        I’ve this period off, too. 🙂

    • Merilyn
    • November 23rd, 2011

    Way off topic, but what deal did Julia make with the Greens that we will only find out about, down the track?

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