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

To: Metacomet who wrote (201152)	9/12/2012 4:56:32 PM
From: Steve Lokness	Read Replies (2) \| Respond to of 541872

<<<<<coming from a GOP sympathizer >>>> What do you see as the structural problem? .................I see the structural problem as being that we took on too much debt during the housing bubble. We borrowed to build houses we didn't need and we used our homes as ATM machines to borrow to do stuff we couldn't afford. When housing prices/values collapsed there was no going back. "You can't unring the bell". Bernanke is trying and that is why your money in the bank is losing value every single day. He is trying but obviously not having any luck. Krugman would have us all go further into debt. He wants to stimulate the economy when there is no demand - there is no demand because people are all determined to get their debt to manageable levels. .......To make this all worse is the fact that baby boomers are crashing into retirement. That means two things at least; one they aren't spending as much (except in medical care) and second, there is fewer people to service an ever growing debt. You can say this all different; we spent beyond our means and now the bill is coming due. Now I repeat; what are the structural problems and how do we fix them? And if you say taxes, I say fine, great, go for it. But if politically you can't raise taxes - then what?