As the official U.S. unemployment number approaches 10 percent, the ravaged economy is veering toward its much-feared "second dip" associated with credit card debt, rising commercial real estate vacancy rates and a major up-tick of unaffordable residential adjustable rate mortgage re-sets.
Now, I ain't no economist, and I ain't no economist's son—but I do have eyes, and ears, and I do live in the United States. And the people around me, for the most part, are those who make (probably) something well under $100,000 a year. For the most part, we've lived reasonably comfortably for the past twenty years. Our homes have increased in value steadily even though our income has not. Our children graduate from college (a good sign for the future) and, though they are generally saddled with debt from student loans, jobs (until recently) have been there for them. With a little luck and careful purchase, many of them were able to buy their own homes, were able to use the increasing value of their homes to offset the burden of college debt.
Originally posted, 2009-02-25 07:58:28 -0500 with permission by Nicholas Benton, Eeditor/owner of Falls Church News Press
by Nicholas Benton
The unfathomable gulf between Washington-think and sentiments in the rest of the land, and globe, has never been clearer than in the first month of the new Obama presidency.
It appears that for the first time since President Johnson's "War on Poverty" initiatives of the mid-1960s, there's a man in the White House dedicated to directing serious national resources to alleviate pain among average Americans.
The president's announcement of his plan to address the home mortgage crisis struck a very deep resonating core in middle America yesterday, zeroing in like a fine, powerful laser on the heartstrings of struggling and fearful households and bypassing with deaf ears, so to speak, all the cacophony of Beltway and Wall Street pundits, critics, hesitators, cynics and enemies.
Once it was decided by the Bush administration that military action was necessary to defend America those who serve your country became a rallying point through the phrase "Support the Troops." Except it wasn't ever about the troops or their needs. Bush Doctrine was more important. Here's Donald Rumsfeld talking about the army
"As you know, you go to war with the army you have, not the army you might want or wish to have at a later time."