Well I hope everyone is feeling better now that a deal has been made between the big spenders and the huge spenders. Instead of a 10% spending increase there's going to be a 7% increase. Ever heard someone brag about saving by buying something not needed on sale with money they don't have? We've maxed out all those other credit cards, so maybe we won't max this one quite so fast. Don't hold your breath.
Let's see, we spend our little hearts out and unemployment is still officially 9%+. I suppose one could argue that without all this spending it would've been worse.
If spending is reduced to the level of 3 years ago, will unemployment get worse or better?
Regardless, we're still faced with so much debt that I doubt it matters. Every great nation eventually falls under its own weight. I suppose now is our time on the slide.
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That's what I fear as well. I don't think any of these little goofy plans will make a difference; our credit rating is going to get downgraded and the root cause of too much spending of money we don't have and not paying back the principal is going to sink us.
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