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|User Info||There Is No Way Out Of This Box....; entered at 2009-12-18 18:25:06|
The longer we wait to deal with it, the worse it will be.
You're 100% correct ... But nobody in Washington understands this basic concept ... and instead, Washington has embraced "extend & pretend" ...
Since this crisis began, in fact, every single government official who has spoken on the matter has emphasized even more lending, that is, cranking the amount of debt outstanding even higher, and The Federal Government has made good on their intent by, in the last year, spending more than $1.7 trillion dollars they did not have - that is, they borrowed even more.
We're so ****ed.