The President and Congress are doing everything they can to bring a new government institute into being: “Consumer Financial Protection Agency.”
As I said in my previous post, this will take power away from the not-politically-influenced Fed and turn over much of that power to the new agency, which will be under Congress’ control.
Obama is also putting pressure on the banks to help boost the economy by lending more. Am I the only one who is confused here?
Unemployment is at 10%. 14% of borrowers are in trouble with their mortgage. US National debt is at 12.1 trillion (and rising) and our unfunded liabilities are at 106.5 trillion (funny you never hear about that number, isn’t it?). To see the national debt clock: http://www.usdebtclock.org/
So, the solution to our problems? Spend! Yes, you heard me right, spend more, borrow more! Hell, maybe it will help to buy a bigger house that you can’t afford?
So, I have questions for you, dear readers, today:
Do you think consumers spending more will help the economy?
Do you think a government agency should have the power to close businesses that are not breaking any laws and are doing well?
And, lastly, WHO THE HELL IS GOING TO PAY THE DEBT????
As I said in my previous post, this will take power away from the not-politically-influenced Fed and turn over much of that power to the new agency, which will be under Congress’ control.
Obama is also putting pressure on the banks to help boost the economy by lending more. Am I the only one who is confused here?
Unemployment is at 10%. 14% of borrowers are in trouble with their mortgage. US National debt is at 12.1 trillion (and rising) and our unfunded liabilities are at 106.5 trillion (funny you never hear about that number, isn’t it?). To see the national debt clock: http://www.usdebtclock.org/
So, the solution to our problems? Spend! Yes, you heard me right, spend more, borrow more! Hell, maybe it will help to buy a bigger house that you can’t afford?
So, I have questions for you, dear readers, today:
Do you think consumers spending more will help the economy?
Do you think a government agency should have the power to close businesses that are not breaking any laws and are doing well?
And, lastly, WHO THE HELL IS GOING TO PAY THE DEBT????
