Now What?

Here is the sad reality of change

http://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.html

I'm not sure if your comment about "Change" is in relation to Obama or not (not that I'm an Obama fan by remote bit), but there's so many more things compounding this, too cheap of money, too much government interference in certain segments of business, too little oversight in regulation in other areas of business (eg: Goldman Sachs, AIG, etc), 2 wars we definitely can't afford, bailing out numerous corporations, large banks, etc when we really should let the free market ride, health care bills we certainly won't be able to afford at this point, and a society that is all about spend, spend, spend, not save, save, save. This has way more to do with society and less with politics and leaders. Government decisions are what they are, but there's too much entitlement in this country, too many people not thinking about the big picture, and focused about saving their dying livelihood, or industry, or small town. If the country continues to chase it's tail trying to save 100% of everything, we'll lose it all. When people learn that the government isn't there to cradle you when your laid off, and medical care IS NOT free, and your company shouldn't be bailed out because there's tons of union jobs that will disappear when your company vanishes - maybe then will we recover. I definitely don't think we're on that path now though..

Just my two cents.

Originally Posted by rsanchez

I'm not sure if your comment about "Change" is in relation to Obama or not (not that I'm an Obama fan by remote bit), but there's so many more things compounding this, too cheap of money, too much government interference in certain segments of business, too little oversight in regulation in other areas of business (eg: Goldman Sachs, AIG, etc), 2 wars we definitely can't afford, bailing out numerous corporations, large banks, etc when we really should let the free market ride, health care bills we certainly won't be able to afford at this point, and a society that is all about spend, spend, spend, not save, save, save. This has way more to do with society and less with politics and leaders. Government decisions are what they are, but there's too much entitlement in this country, too many people not thinking about the big picture, and focused about saving their dying livelihood, or industry, or small town. If the country continues to chase it's tail trying to save 100% of everything, we'll lose it all. When people learn that the government isn't there to cradle you when your laid off, and medical care IS NOT free, and your company shouldn't be bailed out because there's tons of union jobs that will disappear when your company vanishes - maybe then will we recover. I definitely don't think we're on that path now though..

Just my two cents.

I couldn't have said it better.

Well said. To me, this should be a wake up call because many are under the impression that if we need more money just print it.