The American economy: living on debts

[polluxlm]

What do you mean "fix the last one"?

Edit: I'm also curious if the latest fed rate cut will help, other than a short run up on wall street. I'm thinking it may not, but we'll see.

The 2001 crack should have been bigger, but instead of dealing with it Greenspan lowered interest rates and pumped more fiat into the economy. The result was that the problem only poured into every other aspect of the economy, like the real estate market, and now there's no room for maneuvering any more.

And I don't think the rate cut will do much good when all the banks are hoarding the liquidity. 

[SLCPUNK]

The Senate Finance Committee earlier this month approved increasing the limit on the national debt to $9.82 trillion. That boost of $850 billion would be the fifth increase in the government's borrowing limit since President Bush took office in 2001.

Amazing. I mean, really.

In an updated article (see if I was Dim, I'd now be claiming that you have been "debunked") from the yahoo financial section had this little tid bit:

"The economic growth encouraged by the president's tax cuts is now producing sharply increased federal tax receipts," Cheney wrote.

If the economy was so spectacular, producing a generous surplus of revenue receipts we'd have no need to raise the debt ceiling. These guys will lie until their last day in office.

[SLCPUNK]

Every Breath Bernanke Takes

 

[The Dog]

This news, coupled with how weak the dollar is now, really frightens me.

i had no idea the defeciet was that big (i knew it was high, but jesus...)

dems should be repeating that number everytime they talk. ?

i feel bad for the next president, they're going to inherit a recession and a costly war. ?not a good combo.