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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: KyrosL who wrote (152003)	12/11/2010 11:40:00 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 542471

We won't see 8% unemployment for 20 years or more. Oil prices will kill us next year, and oil shortages will show up in '12, when of course, we won't be able to raise taxes blah blah again.

To: KyrosL who wrote (152003)	12/11/2010 12:11:40 PM
From: Katelew	Read Replies (2) \| Respond to of 542471

It's definitely a stimulative package. Growth estimates for next year are being revised upwards by about 1%. So GDP growth next year should be in the 3.5% area. Is that enough growth to forestall a debt spiral? My assumption is no. My assumption also is that the package only adds to the financial instability of the country no matter how one tries to sugar coat it or look for a silver lining. The dramatic backing up of rates this week and the subdued reaction of the stock market makes me uneasy.