I saw an interesting comment on the Politico site that just like the Democrats made the mistake of thinking thay had a "mandate" to reform health care after 2008, the Republicans now think they have a "mandate" to cut spending.
reining in spending is a laudable goal, but far from a priority when the USA is in the worst recession since the Great Depression. The number one goal now is getting the economy back on its feet.
The housing market in the USA has hit its lowest prices in 9 years. Up to half of homeowners in certain states owe more on their house than its worth. Many economists think it may take 10-20 years, if ever, before all the excess housing stock is absorbed, all the while dragging down any potential recovery.
And why are the Politicians threatening to shut down the government? over whether they should cut 30 or 40 billion dollars out of last year's budget. Spending for 2010-11 is budgeted at 3,500 billion dollars, so 30 or 40 is only 1%.
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