Kindly allow me to bump in.. as to why you friends dont agree to rajgreenpeace bro as .. India may overtake USA economy in years to come
Recently i read in a blog that USA spend nearly 76 cents of " A dollar" received as tax in these 4 things only:
1) Medicare
2) Medical Aid
3)Social Security
4) Interest on 14 trillion dollar debt.
This is the present scenario.. and Going by the simulation made by Government Accountability office.. by the year 2020.. the above 76 cents is bound to increase to 92 cents..and hence the MIGHTY power is only left with 8 cents to look after other things which includes the welfare of their citizens, apart from the administrative expenses.
To overcome this problem they are bound to increase the taxes to sky high.. or to make fresh borrowings.
When fresh borrowings are made, this will again will force them to pay more interest to the money borrowed..
How the US Economy will go from now on.. is not a matter of discussion.. but i just want to put, a small problem which they are facing now..and a lots more are under the blanket.. and hence, why not the Indian Economy overtake USA or China..
Recently i read in a blog that USA spend nearly 76 cents of " A dollar" received as tax in these 4 things only:
1) Medicare
2) Medical Aid
3)Social Security
4) Interest on 14 trillion dollar debt.
This is the present scenario.. and Going by the simulation made by Government Accountability office.. by the year 2020.. the above 76 cents is bound to increase to 92 cents..and hence the MIGHTY power is only left with 8 cents to look after other things which includes the welfare of their citizens, apart from the administrative expenses.
To overcome this problem they are bound to increase the taxes to sky high.. or to make fresh borrowings.
When fresh borrowings are made, this will again will force them to pay more interest to the money borrowed..
How the US Economy will go from now on.. is not a matter of discussion.. but i just want to put, a small problem which they are facing now..and a lots more are under the blanket.. and hence, why not the Indian Economy overtake USA or China..
