during recovery summer (LOL!) obama cut FOOD STAMPS by 26 billion to shore up teacher hiring
problem is, according to the grey lady (nyt). districts coast to coast took the bailouts and largely shored up their obese yet still underfed pensions
(did i say Illinois? more accurately the disaster is the making of the politicians in our little Chicago machine....)
It is one hell of a pickle. Economy down, real high unemployment, must pay unemployment insurance to keep people off the street, right? Lending frozen, investment down, housing a disaster with high foreclosure rate and languid new and used home markets, demand dropping, CC debt rising, super high deficit, states struggling to balance.... What combination of things needs to happen to restart growth?
But that said, that alone won't do it. What ignorant hacks fail to realize is that the last two decades of growth are artificial. Take away the growth fed by over use of leverage and we are facing the chance of real low growth. A real ugly fact many people either can't see or refuse to is that we are really in for slow growth for the next decade barring the resumption of over use of leverage.
"If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu