In the editorial section of IBD this weekend, there was an excellent article that caught my eye. As all of the gamesmanship and immaturity has been focusing on the debt ceiling, the news coverage regarding the poorly execute jobs recovery plan has apparently been shifted – at least temporarily. With the recent display of political grandstanding and empty promises, does anyone still believe that his administration, along with Congress, has any idea on how to get the U.S. back to growth?
Promise were made that the enormous amount of stimulus would be used to bring down the unemployment rate and we now know how that has worked out. So, what have we been left with? A no-win situation where the choices will be to increase the debt-ceiling in order to pay the bill, increased taxes to pay back the money borrowed and a cut in the spending that was used to provide benefits during a time of a national economic emergency. In other words, the U.S. now has an inconceivably high tab to pay for the spending spree that did nothing more than buy us some more time.
Of course, if the government did not step in during the height of the financial crisis, we would have entered a prolonged depression with high unemployment and a series of institutional failures. At least that is what we have been told. So, Uncle Sam footed the bill for not only the U.S, but also many foreign entities.
Has anyone in government ever considered what could happen if the U.S.
http://www.thedisciplinedinvestor.com/blog/2011/07/24/sunday-not-so-fun-the-fictional-jobs-agenda/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+thedisciplinedinvestor%2FEBHR+%28The+Disciplined+Investor%29
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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