Not All Milk and Honey - Up and Down Wall Street - A. Abelson - Barrons.com

Not All Milk and Honey - Up and Down Wall Street - A. Abelson - Barrons.com

The issue that might be added here is the enormous debt that has had to be incurred to get the job market where it ostensibly started to be in March.

The question begs as to whether less costly (but less socialist) government policies might have been able to add many more jobs, much more quickly and with much greater potential longevity.

By running up so much debt and by adding entitlement spending on entitlement spending - combined with what would have been avoidable tax increases - the risk of higher interest rates (only abetted by the Fed printing gobs of green) are likely to upset any modestly positive job gains.

As with sub-prime housing discussed above, the reality of the situation escapes those who think the Greeks had the right economic growth answer. Since this appears to be the Obama philosophy, the future looks less than bright.