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HomeSteady Decline Through 2060?
Posted by Larry Doyle on June 28th, 2010 1:12 PM |
What type of legacy are we leaving our kids? Will we leave them so burdened with overwhelming debts and deficits so as to strangle and choke off real opportunities? While Uncle Sam is able to play charades in an ever increasing and dramatic fashion, Sam’s smaller brethren at the state and local levels do not have those capabilities.
On that note, let’s look westward. I wrote in May 2009, “As California’s Economy Goes, So Goes the Country.” Along the same line, today we read from Bloomberg, States of Crisis for 46 Governments Facing Greek-Style Deficits:
Californians don’t see much evidence that the worst economic contraction since the Great Depression is coming to an end. (more…)
