Posted by caesari on 3/5/2013 8:23:00 PM (view original):
That's the question I'm asking too.
Why is 14 Trillion dollars in debt worse than 2 Trillion?
Sure, I'll ask you the same question that I've been asking BL for a month.
Do you think that consumer confidence is tied to one thing and one thing only? BL seems to think it's unemployment numbers.
While I agree that people without jobs aren't going to do a great deal of spending, over 92% of Americans have jobs. The "acceptable" level of unemployment seems to be 5%. So, in essence, if you agree with BL, less than 3% of the US population is causing the problem.
My theory is the employed 92% is controlling the economy. They hear no budget passed, runaway spending, lack of revenue, marginal tax increases, rising debt, increasing deficit, problems with medicare and social security, stagnant unemployment numbers, etc, etc, day after day after day. And they have no confidence that our economy will improve any time in the near future. Some may even believe that it will get worse.