|FYI. We're about to experience the kind of austerity that I don't think will work, if Congress doesn't pull its head out of its ass soon. CNN gets this one right. We need nuanced austerity. We need to thread the needle, meaning, we need to get our house in order and bring spending down so that deficits will grow slower than economic growth, but we can't do it all at once. That will kill the patient. So batten down the hatches. Congress isn't going to do a damned thing until the election is over. So they are going to have 2 months (Nov-Dec) until D-Day to avoid the car driving off the cliff.|
That's exactly right. Congress needs to listen to Obama. He's the only sane voice out there.