Is it any wonder that the dollar is hurting and we are all feeling the pressures of higher prices on groceries and other basic necessities. Our leaders are once again leading us down the path that will end up with a wider gap between the poor and the wealthy. I fear that the middle class will soon be a distant memory and my children will be paying for mistakes made by the current generation.
Our lack of forethought regarding the economy and energy independence is only just beginning to be felt. Unfortunately, I just don't see how bailing out companies is allowing a true free market system to thrive and penalize those who knowingly make poor decisions. CEOs that drive their companies into the ground collect fat paychecks, expect government handouts when things go south, and the rest of us see the deficit rise and the dollar grow weaker, which leads to inflation and higher prices. Washington keeps saving Wall Street, and the rest of us will end up suffering for it, mark my words. God help us if we have another Republican in office, as lowering taxes across the board will only increase the damage.
Some sobering statistics came up in an AP article today:
http://www.msnbc.msn.com/id/26623058/
WASHINGTON - The federal government will run a near-record deficit of $407 billion for the budget year ending Sept. 30, according to the latest Capitol Hill estimates.
The Congressional Budget Office figures released Tuesday say the flood of red ink will spill over into next year, when the deficit would reach a record $438 billion — and could go even higher as the government takes over mortgage giants Fannie Mae and Freddie Mac.
“Today’s estimates provide the latest evidence of the fiscal legacy of Republican policies: record deficits and a weak economy,” said House Budget Committee Chairman John Spratt Jr., D-S.C. “It’s another reminder of the dismal economy and budget that Republicans are leaving others to sort out.”
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