I like how the method of always cutting vital services to elicit for tax hikes is a universally accepted practice.
We’re closing in on SHTF.
/s
He's just following the lead of our Obamassiah, who has decreed a $2 trillion deficit on a $14 trillion GDP "Is A Good Thing"™. After all, as Joe Biden said, we have to spend money so we don't go bankrupt!
You silly FReepers with your antiquated notions of budgets and fiscal responsibility. It's time you learn that all bends to the will of the Obamassiah!
/sarc
Whatever Cowen does will seem like child's play compared to what a future US government will have to do in a decade or so if Zer"O" gets what he wants rammed through Congress. Which will be a slam dunk unless a few Democrat Senators who haven't bought quite as deeply into Zer"O" style collectivism as their fellow Democrats come to their senses and vote their consciences instead of their future popularity in the Socialist-Democrat party.
Sadly, if the polls I read are anywhere close to correct a majority of today's Americans want socialism in favor of the traditional American free enterprise system and personal responsibility. That system along with God's grace and favor made America the great nation is was until recently when the full effects of 1/2 century of socialist/atheist brainwashing in government schools began to kick in. IMHO America is finished as a great and free nation if Zer"O"s collectivist agenda is typical of what the freeloading majority of Americans want from government. America enjoyed a great 2 century + run of freedom and unprecedented prosperity. My greatest regret is that the 2 century + run is ending just as my grandchildren are nearing young adulthood.
It makes me almost physically ill when I think of what could have been if collectivism had not been favorably introduced into our schools and universities, the media, and apostate churches, and had not been relentlessly promoted by Godless liberals at every level of government during the last 6 or 7 decades.
The last, greatest ever financial bubble.....Ladies and Gentlemen...is THE US GOVERNMENT!!!!!
But the virtually traffic free, perfectly paved make-work mountain forestry roads to nowhere were great for riding to mountain bike trails! BTW, I'm not sure what a e_SEmD is, but it didn't seem to help Japan's economy either.
Ping.
Key quote:
“Is this a replay of mid-2008 when the Fed lost its nerve, bristling over criticism that it had cut rates too low (then 2pc)? Remember what happened. Fed hawks in Dallas, St Louis, and Atlanta talked of rate rises. That had consequences. Markets tightened in anticipation, and arguably triggered the collapse of Lehman Brothers, AIG, Fannie and Freddie that Autumn.”