jjorsett: There is no painless -- or should I say searing agony-free -- way out at this point. When the fed stops the presses and interest rates start rising, that's when these policies come home not to roost but to claw thru the front door and eat us alive.
Dr Dreidel: jjorsett: There is no painless -- or should I say searing agony-free -- way out at this point. When the fed stops the presses and interest rates start rising, that's when these policies come home not to roost but to claw thru the front door and eat us alive.There is if we start playing the long game again.We can have the budget balanced more easily if we take a century to do it, versus taking 10 years. (Though it should be pointed out that no one's going to eliminate the total debt in 10 years - not Obama, not Congressional Republicans, not Romney. Maybe shrinking the yearly deficit relative to years past, some even claiming a surplus in the out-years [years 11, 12, 13...]).If the GOP is dead-set on forcing these showdowns every year or two, it's going to be painful every time - ask your boss what business would be like if all of your clients flirted with not making payments once a year. So long as things are in that way uncertain (i.e. no one knows if the GOP will suicide-pact itself every year from now until eternity), businessphincters will be tighter than Joan Rivers' face.
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