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<blockquote data-quote="John Roberts" data-source="post: 33961" data-attributes="member: 126">Re: 2011 U.S. Budget Cut in Perspective<a href="http://mysouth.su/2011/08/berlusconi-wants-to-change-the-constitution-of-italy/" target="_blank">http://mysouth.su/2011/08/berlusconi-wants-to-change-the-constitution-of-italy/</a>I thought this was an interesting response. While not the first time he called to change his constitution for other reasons. He called for a balanced budget and Does sound familiar... and not business as usual for Italy. A common world currency (or gold standard) would seem to solve the conversion rate issue, but as the EU is seeing without consistent budgetary constraint from all member states the imbalances will pop up elsewhere like the current sovereign debt issues demonstrate. No easy answers for anybody, we must learn to live within our means, and not impede the wealth creators from doing what they do better than government. JRPS: In another example that words have consequences, all the politicians who made public statements supporting default of our debt obligations should not now be surprised by a debt quality downgrade...&nbsp; duh.</blockquote>

[QUOTE="John Roberts, post: 33961, member: 126"] Re: 2011 U.S. Budget Cut in Perspective [url]http://mysouth.su/2011/08/berlusconi-wants-to-change-the-constitution-of-italy/[/url] I thought this was an interesting response. While not the first time he called to change his constitution for other reasons. He called for a balanced budget and Does sound familiar... and not business as usual for Italy. A common world currency (or gold standard) would seem to solve the conversion rate issue, but as the EU is seeing without consistent budgetary constraint from all member states the imbalances will pop up elsewhere like the current sovereign debt issues demonstrate. No easy answers for anybody, we must learn to live within our means, and not impede the wealth creators from doing what they do better than government. JR PS: In another example that words have consequences, all the politicians who made public statements supporting default of our debt obligations should not now be surprised by a debt quality downgrade... duh. [/QUOTE]

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