Forum: Liquid Lounge
Like any other disease, recovering from the private debt crisis will take (more) time. But we're getting there:
>>In the U.S., household debt has now fallen to 84% of GDP from a peak of 98%. Nonfinancial corporate debt has fallen to 77% from a peak of 83%. Financial sector debt has plunged from 123% of GDP to 89%.<<
Sadly, our "leaders" have not learned the same lesson. While Moms and Dads are working to put themselves on solid financial footing, our "leaders" are working just as hard to put the nation deeper into debt:
>>Public debt has risen to 89% from 56%.<<
The article points out that total debt - public and private - is the risk to an economy. Voters are solving their side of that equation. Our "leaders" ought to take the lead from their constituents on this one.
This article also reinforces a point I made earlier: Voters are now VERY sensitized to debt. That includes the public debt. I do not believe voters will regain confidence in government until government shows some fiscal responsibility and restraint by balancing their budgets and stopping the flow of red ink.