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I believe that history has proven that the U.S. economy is not capable of a period period of growth and prosperity for longer than 8-10 years before a corrects itself. As such, recessions come and go naturally. My concern is that, if history is any guide, we'll break out of the recession and have a period of prosperity, but this period of growth will be blunted by the overwhelming debt load that we are, or will be, carrying as a country. The stimulus no doubt is a big part of this debt. Will a period of 8-10 years of growth be enough to pull us into the black again? Although I am not an economist, it seems to me that the projected debt is far more than we, as a nation, can pay off even in boom times. Thus, the revolving door of prosperity and recessions will do nothing but dig us a deeper hole as the years pass by because of the natural correction that we seem experience every decade or so. I believe the days of budget surpluses and zero national debt are never to be had again.
Assuming that it's a straight-up poll (a very dubious assumption knowing the source, USA Today), that means pre-stim to now, 3% (roughly) have changed their minds.
I'm surprised you could spell it. I doubt you know how we arrived where we are today. Perhaps start at the end of Bill Clinton's second term and finish at the end of the second term of the idiot frat boy from Texas.
I'm surprised you could spell it. I doubt you know how we arrived where we are today. Perhaps start at the end of Bill Clinton's second term and finish at the end of the second term of the idiot frat boy from Texas.
Roll up your sleeves everyone and hold on!! We're gonna spend out way out of this mess!!
the war got us out of the depression, so i hope you are not suggesting another war to help out this time. (though you have to wonder with all the escalation in afghanistan, colombia, and pakistan).
Government cannot create new purchasing power out of thin air. If Congress funds new spending with taxes, it is simply redistributing existing income. If Congress instead borrows the money from domestic investors, those investors will have that much less to invest or to spend in the private economy. If Congress borrows the money from foreigners, the balance of payments will adjust by equally reducing net exports, leaving GDP unchanged. Every dollar Congress spends must first come from somewhere else.
as of right now, the chinese are not buying our treasuries and are not funding our deficit. the party has ended and that is why you have geithner promising no more spending.
the war got us out of the depression, so i hope you are not suggesting another war to help out this time. (though you have to wonder with all the escalation in afghanistan, colombia, and pakistan).
Government cannot create new purchasing power out of thin air. If Congress funds new spending with taxes, it is simply redistributing existing income. If Congress instead borrows the money from domestic investors, those investors will have that much less to invest or to spend in the private economy. If Congress borrows the money from foreigners, the balance of payments will adjust by equally reducing net exports, leaving GDP unchanged. Every dollar Congress spends must first come from somewhere else.
as of right now, the chinese are not buying our treasuries and are not funding our deficit.
No, I'd like to see us get out by using social means- the NRA (not the gun nuts, the program of the 30's) the CCC, socialized health care and school assistance (college).
But, if you look back at the 30's, the history is again repeating, only a bit worse:
Obama (closer to Grover Cleveland than FDR) is underfunding the social stim programs by 2/3.
He also allowed the Auto Industry to offshore
These facts make a jobless recovery a given.
So, just like the late 30's,( post-'36) when the new Congress forced FDR to be fiscally responsible, to concentrate on the deficit rather than unemployment, we will flouder, and extremism will grow.
Remember they were storing guns and food for the coming revolution in Iowa! for god's sake. Prior to Pearl Harbor.
Today, nobody can say for sure what will happen left unchecked; if you notice the GOP is not a beneficary of the ginned-up hatred among our masses.
But it will not be pretty.
And that's both a shame (over the missed opportunity) and a major cause for fear.
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