The worst thing about the American election (I'm Australian so watching from a distance) is how rapidly it has become about anything but the economy. When the economy is mentioned it seems to relate only to handouts for home-owners with mortgage trouble, not to longer term fixes. One of the problems is the need to tell Americans that they aren't as affluent as they think they are, a perception fueled by a stockmarket bubble under Clinton and then a real estate bubble under Bush. As nobody ever votes to have their wages or government handouts reduced (not that a leftist party would suggest it) it would be expected that huge budget deficits will continue until the world loses faith in the US dollar.
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The worst thing about the American election (I'm Australian so watching from a distance) is how rapidly it has become about anything but the economy. When the economy is mentioned it seems to relate only to handouts for home-owners with mortgage trouble, not to longer term fixes. One of the problems is the need to tell Americans that they aren't as affluent as they think they are, a perception fueled by a stockmarket bubble under Clinton and then a real estate bubble under Bush. As nobody ever votes to have their wages or government handouts reduced (not that a leftist party would suggest it) it would be expected that huge budget deficits will continue until the world loses faith in the US dollar.
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