How Good Are Fed Forecasts if it Can't Get the Present Right? - Barrons.com
I'd rather see the discussion centered on whether the government is acting like an adult and doing everything it can to relax regulatory, tax, immigration and other policies that inhibit making the US the best place in the world to move to and do business.
Clearly Obama's announcements this week are blatantly ignorant of a problem but, like the efforts of a child, they don't touch on solutions to the problem.
There is a huge debt, entitlement and public pension bubble that almost everyone seems to want to blissfully ignore - as they did with the housing bubble.
As with the housing bubble, when things don't add up (i.e. in that case, the correlation of incomes to housing prices), then the ultimate question is how the bubble will burst and be balanced.
The overspending of the Greeks (as with the US today) and anti-growth policies in both cases don't bode well for the US.
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