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...services so many need, and still struggling to revitalize an economy that for so many years was the envy of the world. The U.S. has been accumulating debt and owes about $800 billion to China alone; China has been building reserves and now has in excess of $2.2 trillion. China remains a poorer country on a per capita basis but is rapidly becoming an economic superpower. The U.S. is one of the most prosperous and stable countries in the world, but its system is showing signs of age. (See pictures of the best-selling cars in China...
...billion cubic feet a year. Because Iran already has one of the world's largest gas reserves, most of the imported Turkmen gas would be resold for profit. Not to be outdone, China signed a 30-year deal with Turkmenistan in June to buy up to 1.1 trillion cubic feet of Turkmen gas annually, starting in 2011. Work is expected to be completed on a 4,300-mile-long pipeline connecting Turkmenistan and western China in December. ("How Badly Would Sanctions on Gas Imports Hurt Iran...
...also realize that part of what got us here was overspending, and that that overspending was fostered by a shopping culture that uses cheap goods to hook people on feeling like they're winning at something. As a country, we held nearly $1 trillion in credit-card debt this time last year-about the same as the value of all the goods and services produced in South Korea annually. We've bought so much stuff that we've struggled to find places to fit it all. The U.S. went from having 300 million square feet of self-storage space...
...knows, but you can't help wondering if squeezed maintenance budgets are making our country less safe. A 2005 report card on American infrastructure by the American Society of Civil Engineers (which gave mostly C's and D's) estimated that the U.S. needed to spend $1.6 trillion to bring our roads, highways, bridges and dams into good shape. Sure, the engineers are looking for work but know that the U.S. spends only 2.4% of its GDP on infrastructure, as opposed to 5% in Europe and 9% in China. Here again, why should a politician spend money today...
...Republicans are readying their message as well. "After six weeks of drafting a bill behind closed doors, the majority has produced a bill that increases premiums, raises taxes and slashes Medicare by half a trillion dollars to create a new government program," minority leader Mitch McConnell said on the Senate floor Thursday. "This is not what the American people want. I don't believe they think this is reform. This is not the direction to take...