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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Neeka who wrote (377568)	8/10/2010 12:27:21 PM
From: Bearcatbob	3 Recommendations Read Replies (1) \| Respond to of 793926

Neeka, I routinely joust with a group of friends on political issues. Budgetary issues are one of our primary discussion items. The purpose of recessions is to force liquidation of bad contracts and other unsustainable excesses carelessly accumulated during the "good times". I get nowhere with this with some. Obama has worked diligently to avoid much of the required restructuring by simply trying to keep the status quo afloat with more and more federal money. Unless the restructuring is forced soon - what we will have is a permanent bailout of poorly managed state and local governments. Just watch - next summer or sooner we will be back in the same place - billions for the bailout of unaffordable excesses. Bob