Deficit and debt debacle continues to drag on our economy

Posted By on November 21, 2011

The financial markets responded negatively Monday morning to the general conclusion that neither Europe or the U.S. can come to agreements over out of control spending. The congressional super committee charged with coming up with a solution telegraphed failure thismarkets1111211030 weekend as neither Democrats or Republicans seem interested in compromising their positions. I ask you, why do we continue to fund a disfunctional government and send the same people to govern when they do little to create an environment that will help our economy? A rhetorical question when the split politics of America send two opposing groups of representatives to Washington DC. One motivated group, Republican conservatives, demand “less government control and a shrinking federal budget” and the other, progressive or liberal Democrats expect “more government than we have now and even more federal control.”  It is disappointing for our economy and struggling Americans that neither side sees the financial health of our country as in their political interest. Shameful.

EDIT: Although I’m not in the Gov Rick Perry campaign camp, I am frustrated enough with congress and the lack of leadership from the Whitehouse to agree with his comments …

[flv:govperry_cutpayinhalf111121.flv 480 270]

Comments

  • Ugly day for those long in the market or for those wanting to see confidence is returning. Very few bright spots in Europe or the U.S. and certainly little reason to be optimistic that President Obama or either party in congress is realistic about healing the country this year.

    The Dow Jones Industrial Average ended down 248.85 points
    to 11547.31 and moving into negative territory for 2011. The S&P500 was down 1.9% to 1192.98 and Nasdaq the same percentage down to close at 2523.14.

    Attaching Dow chart for the past 6 months …

  • Really, the best bet from here on out is, don’t vote for any Democrat or Republican, even if you completely agree with what they claim to stand for, because those parties have a long track record of lying, and exploiting the people whenever they get the chance.

    Just my opinion, though.

    And, if you think it’s throwing your vote away… they’re both gonna sell you out to the highest bidder, so there is no “lesser of two evils”.

    • Jobs and a growing economy will be the only way out of this debacle … we certainly aren’t going to “grow the economy” by raising taxes. We need to do whatever it takes to put America back to work, be it repatriating offshore money or bringing corporate taxes to levels that encourage companies to expand here (or at least competitive with other nations) … even if it means “those who have” get wealthier for the next decade. In my opinion, getting the economy going will lift all boats … when jobs and good times return, then deal with the “fairness” and the “green agenda” issues. Sinking the economy and sending investment dollars overseas doesn’t help America. (but, yes … I’d like flush the whole bunch in Washington DC right now)

  • Jacob

    I must say I’m a big torn as to what I should be investing my money in with the market in such a position.  On one hand, with the markets depressed, it’s a great time to buy, but on the other hand I’m not sure it’s really going to improve with the way the country is headed.  Perhaps I should be ‘investing’ in my 4 7/8% mortgage and actually ‘earn’ something on my cash vs go gambling in markets that continue to go down and show, IMHO, little sign of ever coming out.  I hate being all doom and gloom but it’s hard not to with what I see in our country every day.

Desultory - des-uhl-tawr-ee, -tohr-ee

  1. lacking in consistency, constancy, or visible order, disconnected; fitful: desultory conversation.
  2. digressing from or unconnected with the main subject; random: a desultory remark.