Nearly every household in the country is awash in credit card debt. Banks gave us easy credit and we took it. Every bank in the country has billions of dollars out in unsecured credit card debt. And we run our government the same way. Politicians have been in a tax cut race for the last decade--he who promises the biggest tax cuts gets elected. We're in a war that's costing us 10 billion a month so we give tax cuts. We're in a national emergency that is going to require us to spend 700 billion, which we going to have to borrow, and we couldn't even pass the legislation unless we loaded it up with even more tax cuts. Any politician who even remotely suggests that we might have to leave taxes the same (or heaven forbid raise them to some semblence of what we actually spend) is run out of town on a rail. Dick Cheney actually said "deficets don't matter" and he was right, in terms of getting elected they don't. We don't want to hear about it--let's just borrow some more. Well are are going to hear about it. The deficets we've racked up as individuals and as a nation are going to matter a very great deal for the next decade. We're maxed out and without the ability to charge stuff on credit cards, low interested car loans and leases, and easy, low interest home loans, we aren't going to be able to spend our way out of this one. And we have nobody to blame but ourselves.

posted by 24.247.176...

• Bailout fails; Dow plunges...Now What???, Wasabi, Mon, 29 Sep 2008 11:58:58
  • We're all to blame, No Snaab, Sat, 4 Oct 2008 11:09:59 <-- Viewing This Message
    • Re: We're all to blame, PGAero , Mon, 6 Oct 2008 09:01:12
      • The old fashioned way, No Snaab, Tue, 7 Oct 2008 14:28:47
      • but some should be blamed more than others, yaofeng, Mon, 6 Oct 2008 14:33:37
        • I hear ya yaofeng..., PGAero , Tue, 7 Oct 2008 08:31:15
  • The current economic crisis, yaofeng, Fri, 3 Oct 2008 05:14:02
  • Scuttlebutt is............READ THIS, andym, Thu, 2 Oct 2008 18:33:32
  • Re: Bailout fails; Dow plunges...Now What???, Scott Paterson , Wed, 1 Oct 2008 21:35:55
    • I applaud you...Although political, Wasabi, Thu, 2 Oct 2008 11:47:23
      • Restraint is a better word, No Snaab, Thu, 2 Oct 2008 13:35:26
  • Re: Bailout fails; Dow plunges...Now What???, yaofeng, Mon, 29 Sep 2008 20:42:31

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