Shutdown, austerity and depression for America
Published time: 26 Sep, 2011 22:47 Edited time: 27 Sep, 2011 02:47
Spencer Platt / Getty Images / AFP © AFP
For the third time this year, the United States government faces a potential shutdown as lawmakers in Washington try to tackle spending issues on Capitol Hill.
With unrest on Wall Street, Washington and across America, how severe of a threat is this shutdown and what could come of it?
"If we don't act now it's going to be the end of the world," said Charlie McGrath of WideAwakeNews. While McGrath might be a tad bit dramatic, he warns that the rest of the country should be concerned over what's to come of the nation's economic crisis. And for pointers on what to expect, McGrath suggested that one doesn't have to look much further than across the pond.
"Just look at Europe and see the directions we're going," cautioned McGrath. "Austerity is coming to this country and it is being brought to us by the same lawmakers that made sure that Wall Street was bailed out and made completely whole."
McGrath echoes the opinion that the big banks and DC bigwigs are in cahoots and have no care for the little guy. He says that the failure of the American economy has been put onto the backs of the American people, and the only source to blame is the corruption between Wall Street and Washington. "There are no lengths that they will not go to in order to bail out their friends and stick the American people with the burden," said McGraw.
But what about the too-big-to-fail banks? Is a collapse possible? "For me to think it can't happen again here, that's just not reality," said McGraw. He says that people are "literally dying now in Europe because of austerity measure," and as rallies skim the brink of riots, those same measures — and consequences — could come to America should a worsening recession hit the US at home.
"Why would this depression be any different than the depression of '29 and the 30s when we were led into World War 2?" asks McGrath. "Everything seems to be going in the exact same path."
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