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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (548210)	2/5/2010 11:18:34 AM
From: tejek	Read Replies (1) \| Respond to of 1575523

Many economists take a much calmer view of budget deficits than anything you’ll see on TV. I took a much calmer view as well, but these deficit are ridiculous. These deficits are extreme because the situation was extreme. You had a president running two wars, cutting taxes to the rich and an economic recovery under that same president that was lame at best. This recovery is going to be very difficult, requiring a lack of ideological rigor and instead, more creativity.

To: TimF who wrote (548210)	2/5/2010 11:42:48 AM
From: i-node	Read Replies (2) \| Respond to of 1575523

I still have a calmer view compared to those who push "we are facing utter ruin" Tim, you are a very collected individual, no doubt. But it is getting very difficult to see a way out of this mess. Even if Obama and the congress, overnight, became fiscally responsible, there is going to have to be some real pain inflicted on the American People to overcome this situation - especially wrt SS and Medicare, but also with Medicaid in the states and the number of people who are reliant on the federal government in one way or another. Art Laffer wrote a good book a couple years ago concerning the end of prosperity. I think we're staring it in the face and I don't see anyone with the will to try and stop it.