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.
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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