Tuesday, February 02, 2010

The New Economic Reality of the US

A disturbing but realistic forecast for America's future. The New York Times published an article that states, in part, that:

"Unless miraculous growth, or miraculous political compromises, creates some unforeseen change over the next decade, there is virtually no room for new domestic initiatives for Mr. Obama or his successors. Beyond that lies the possibility that the United States could begin to suffer the same disease that has afflicted Japan over the past decade. As debt grew more rapidly than income, that country’s influence around the world eroded."

I am hoping that this economic crisis will bring the non-partisan minds in Congress together to do some difficult but necessary things to our economy to help reduce the damage of this forecast. But I'm not holding my breath....

2 comments:

Vicky said...

Just one of the reasons we're still considering moving South. The only problem is that Latin America is "hot," and we'll be tied to US Dollars in the form of Social Security (eventually...we hope). I may have to take pictures on the beach to eat!

Tonya said...

No such thing as non-partisan in politics. Just a sad little fact. :(