I don't understand how things are soooo bad when they ONLY grow by 3.5%.  We've have record growth over the last few years, so isn't 3.5% still growing.  Most people now realize that the spending sprees of late are ridiculous and that we need to get more realistic with our spending.  I am amazed that there is growth at all.  If incomes are going down, and groceries and gas are up, how are people continuing to spend more on "gadgets"?  I don't get it!

This slide will be ongoing. Next year we should see the same downward trends. In short, a slow and steady erosion of the US economy until there's a complete and total collapse. Over time, the entire financial world will slowly digest the US debt. Will it ever allow the US to repeat the same greedy behaviour in the future? Not if they can help it. The rest of the world is tired of living below its means just so the US can continue to live beyond its means. The US will lose its status as an economic super power, as China and India outpace it in combined GDP/GNP. London will be the new financial center of the world. How can we ever compete with the two most populous countries in the world? The average wage earner in China makes 20 times less each month than the average American worker. This fact alone will continue to facilitate the ongoing American economic  collapse.