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Originally Posted by aceventura3
It is not just people not investing new money. They are taking money out of the market. The savings rate is up and people are paying down debt. All these indicate pessimism.
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No, it's realism. For three decades now people have followed the republican borrow-and-spend mantra. The republicans bankrupted the government doing it. And people bankrupted themselves. Now they're figuring out that buying everything on credit isn't such a hot idea and maybe instead of buying the new shiny, it's time to pay off some old debt.
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{added} Oh, and here is another good one. They just doubled the federal deficit, and now Obama is going to cut it in half by the end of his first term. What does that mean folks? If this was not so serious, I would be laughing out loud. It has to be a joke the way the pundits are so amazed by Obama's plan.
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Do you understand the difference between the deficit and the debt? The deficit is not cumulative, the debt is. Yes, he's having to spend a lot of money now, because the republicans screwed everything up so badly. But that doesn't mean he can't cut government spending in the future.