Washington Shoots the Economy in the Foot

The debt deal has pretty much cinched the possibility of continued high unemployment and slow growth for the foreseeable future. More importantly, the possibility of a recession around the corner just increased as well.

...


We also have a decrease in federal government spending as well.

So let's review. Consumer spending is weak, gross private domestic investment is stalling, we're still a net importer and government spending is dropping. No component of the GDP equation is showing any sign of a meaningful increase in the near future. Simply put, we've doomed ourselves to periods of slow growth.


http://seekingalpha.com/article/283627-washington-shoots-the-economy-in-the-foot

Didn't Herbert Hoover try to balance the budget in 1932?

pulled their weight . . . "



You know, Archie & Edith couldn't live that way today on Arch's wages as a loading dock supervisor. His company would have moved to China a long time ago, and taken his pension with it. Not even if Edith worked, F/T, at Wal*Mart, too. They'd be homeless in the 21st Century and singing a different tune.

Message removed by moderator. Click here to review the message board rules.