Waaaaaaah. We've priced ourselves out of the world auto market. We've nearly bankrupted our companies with our excessive union demands. Now, we expect the federal welfare system, er, government to bail us out. We're entitled. Waaaaaaaah. Capitalism failed us. Now we want socialism, paid for by everyone else. Waaaaaaaaaaaah.
And, this so-called middle class of ignorant, overpaid union workers has none of the characteristics of the real American middle class. They are not prudent, thrifty, sober, or charitable. Giving them too much power and money has just coarsened our cuture and threatened our republic.
Hold onto your pocketbooks - the Congress is busy passing legilation (by nearly unanimous vote) to bail out the PBGC (Pension Benefit Guaraty Corporation - a pseudo "corporation" invented to bail out pie in the sky pension promises made by corporate management in order to keep the doors open and product flowing.) . When unions make demands, corporations cave in knowing full well that defaulting on pension obligations means the feds will rush right in to save the day.
The republicans in congress don't have the backbone to stand up to the flushing swirling toilet of public welfare statism.
This will go one indefinitely until there is
1: serious natural disaster so great that martial law is delcared and all the nit picky little pork projects loved by congress are concelled until further notice, OR
2: Inflation starts up gain and foreign govts recognized that they don't want to buy our debt which results in massive cash flow problems for the feds and maybe a recession or depression or two.
US history is one long list of economic setbacks, depressions and recessions (back to back) and serious economic downturns. Public spending may soften the blow but could also serve to make it much worse and more prolonged.