http://finance.comcast.net/www/news.html?x=http://www.comcast.net/data/news/2006/10/28/508980.xml&cvqh=itn_economicdisaster
The metaphor of this picture would be a bit of hyperbole for our current economic situation, but one thing's clear: the economic policy that'll support our future needs some addressin'! Read the article for some warnings from the head of the GAO, re: America's chances of financial ruin if we don't watch our spending. Certainly a subject that needs much addressing as we approach the years of Medicare and Social Security cash-in's.
I'm no economist, so a lot of this economic policy talk doesn't make the most immediate sense to me; it takes some thinkin'! Maybe Stu can give me some thoughts sometime. In the meantime, I think that big gov AND the individuals need to do some thinkin' of their own. Does it really make sense to run up the debt on all those convenient credit cards? Have we learned some lessons from the housing bubble? And does America's *long-term* policy on the macro equivalent of these low-APR mortgages and Mastercards need some overhaul? How should we best approach this?
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