Obama’s and Bush’s effects on the deficit in one graph

[Danzig]

Originally Posted by Riot

That's not true. More than half the AAA rated countries have greater debt to their economy size than we do.

I think - judging by what S & P actually said in their statement, which wasn't the above - that it is the intransigence of the political climate, the refusal to consider raising taxes by some, etc.

It's not where we are, as much as it is what we are not doing about it.

And as far as S & P's worthiness as to rating our credit worthiness, notice that everyone flocked to US Government Treasuries today during the sell off.

well, you'll have to take that up with msnbc. i'm sure it had a lot to do with the fact that the big agreement we spent weeks waiting for, does nothing to curtail future spending. perhaps s&p was only issuing a wake-up call?


as for the other in your post above, i only know what i heard them saying on bloomberg this afternoon about jobs and hesitation, questions about cost. that too often anymore we're getting 'half laws' that we have to wait to see what the rest will entail-later. that doesn't do much for anxiety now.
i also read a day or two ago about our productivity being the highest in years. and of course companies save $ by paying overtime rather than by hiring.and with the current climate, not too many workers are going to complain.
you also have hesitation in that people won't invest, won't expand, won't add on, because they don't know what that cost will be in a few years-is it worth the pay out? and a lof of investors are sitting on cash in humongous amounts-and that does no one any good. banks can't invest it, it's not being used, it's just sitting there.

everyone's waiting....

for what?

[Riot]

Originally Posted by Danzig

i also read a day or two ago about our productivity being the highest in years. and of course companies save $ by paying overtime rather than by hiring.

True - but that "productivity" has all been gained by keep real wages low and making people work more for less.

you also have hesitation in that people won't invest, won't expand, won't add on, because they don't know what that cost will be in a few years-is it worth the pay out?

If they had customer demand, they would be rushing to fill it and make that money!

There is no customer demand.

and a lof of investors are sitting on cash in humongous amounts-and that does no one any good. banks can't invest it, it's not being used, it's just sitting there.

everyone's waiting....

for what?

For the vast majority of people to have money to spend, to buy cars, and donuts, and clothes, and electronics, and stuff at WalMart.

When WalMart sales fall, you know how bad it is.

There is no "consumer class" any more. There are no consumers, they don't have money. Only the wealthiest have any money. We have one of the greatest wealth disparities ever. And when the rich get more money, they don't spend more. They spend the same, and save the extra.