Remember how, around 2000, we went from budget "surpluses" (based on projections which assumed the .com bubble would never burst) to deficits almost immediately?
Notice how we are bailing out the financial industry, in an effort to postpone problems? (I don't think anyone really believes the bailout will prevent a recession, though it might postpone it.)
Remember how, around 2000, we went from budget "surpluses" (based on projections which assumed the .com bubble would never burst) to deficits almost immediately?
Notice how we are bailing out the financial industry, in an effort to postpone problems? (I don't think anyone really believes the bailout will prevent a recession, though it might postpone it.)