US senate bill... By Umer
02 January, 2013
According to media news US Senate passed a temporary bill to avoid fiscal cliff. Long negotiations between demarcates and republicans had failed to provide any desired results. Recent bill passed by US senate also includes a tax increase on America's high Income people. US debt crises has become big risk for world economy. IMF chief warns serious consequences for world economy if Democrats and Republicans fail to agree on US debt crises. So far both Republicans and Democrats have serious differences and accusing each other over recent US debt crises. After several failed meetings US President warns of serious consequences in case of any failure. Now fears of US default are also growing as dead line coming near. National Analysts say that if the U.S. government fails to control the budget deficit in 2013, it will cause a negative effect on other world economies. Now several others Stock Markets are feeling shocks of US debts crises.
According to recent survey every eight of ten US citizen is worried about US debt crises. True realty is that people of US are paying high price of US war adventures in different countries of the world. According to economic experts country economy might face another recession in coming days. Un employment rate is going high and housing crises going bigger. Taxpayers in the United States have spent large amount of money to finance both the unpopular War in Iraq and War in Afghanistan. Only Afghanistan ten years war expenditures have increased four hundred thirty two billion dollars. The U.S. military has a total of over 700 military bases in 130 countries around the world. US is spending huge amount of money to control different parts of world. Several unpopular governments in Afghanistan, Iraq and Pakistan also getting huge amount of money from US to implement US agenda in the region.
KHAWAJA UMER FAROOQ