In response to:

Wimping Out

Marhefka Wrote: Jan 31, 2013 8:54 AM
Jackie, I'm afraid I don't understand your comment about the debt must be paid off. No one has any intention of paying the debt off. The question is how much is the interest and can the U.S. pay it. The debt will soon be 20 Trillion. At the historical average interest rate of 4%, this means we must pay 800 billion dollars a year in interest. Ouch!!

The New York Times mobile app sent me a breaking news update Wednesday morning: "U.S. Economy Unexpectedly Contracted in Fourth Quarter." Based on high government third-quarter spending and government policies and politics occurring during the fourth quarter, the slowdown should come as no surprise.

The third quarter final gross domestic product growth was 3.1 percent. That relatively high number (compared to full year 2011 at 2 percent) was driven primarily by an increase in inventories and an increase in government spending. While the growth number was hailed by many as a reason to cheer, it had to have been too good...