Wednesday, March 11, 2009
Is Their More Capitalism In China Than USA?
Visitors at the Beijing Auto Show checking out a new car. Chinese Auto Sales surge 25% as tax cuts for small car purchases spur economy.
Americans are bracing for "Hope & Change" new capitalism. Treasury Secretary Geithner says, Capitalism will be different now.
The Treasury under Obama's watch said today that the U.S. Budget deficit ballooned to $192.8 Billion in February up 10% from a year ago. With 7 months left in the fiscal year, the Budget deficit is well on its way of hitting the Obama Target of $1.75 Trillion Dollars.
The slowing economy has sharply reduced tax revenues to federal coffers, down 17% this year compared to the same period a year ago.
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