Monday, May 7, 2012

"Economic Jeopardy"

While most eyes are on Europe this morning, don't forget where own country's headed. We're playing our own round of what might be called Economic Jeopardy. Despite all the warnings and occasional lip-service, no one's seriously working to fix anything. They weren't last year, and they aren't now.

Since RightChange and Politizoid kicked out its Economic Jeopardy cartoon in March 2011, the U.S. federal debt has soared past $15.6 trillion and it's still climbing.

Now look at the leading presidential candidates. Just like Economic Jeorpardy's trio, Barack Obama and Mitt Romney are good about changing the subject. Each tells us he'll bring more jobs and better times. But neither really tells us how they'll take us there and who will pay for it. Any references to the federal debt are few and far between and, even if do come, are usually just a jab at the other guy rather than part of  meaningful discussion.

This year's election seems to boil down to who you want in the White House when the next economic disaster hits rather than picking someone to fix things before it happens. And I don't really think either side is even planning for that. We've squandered years of opportunity. Prepare for a hard landing.

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