Do you think this economy will get better or worse ?

[kentuck]

If it turns worse, the deficits will soar from over one-half trillion dollars a year to almost one-trillion $$$ dollars a year. That is unimaginable! We are skating on thin ice. Our house is made of straw.

And even if the economy improves over what it is at the moment, who could realistically say that it would be enough growth to balance the budget? It ain't gonna happen folks. We are in a financial crisis. We just don't know it yet. We are just waiting for the next shoe to drop.

So what happens if the economy turns downward? And surely it will before Bush gets a chance to push thru another taxcut...

(I'm no economist but I play one on DU)

[DoBotherMe]

1. It's going to tank ...

you are right "house of straw"

[smirkymonkey]

5. I've been calling it a "house of cards" for a while now, but

either way, we are doomed. I don't believe the fragility of our economy will survive a sustained blow.

[hecate77]

8. Worse, and I will do anything I can to help it tank.

Boycotts, withholding taxes till the last minute, not spending money, clearing credit cards, carefully spending only in Blue states and with Democratic supporters where I can verify that, no travel to red states unless I absolutely cannot avoid it, finding as many tax dodges and loopholes as I can, not buying much made in America if I can help it, unless I KNOW the company is on our side.

I'm sure I'll think of other things, too.

[prodigal_green]

2. all it takes is one phone call from

the Chinese, the Germans or the French and we're toast. They hold our paper, they can dump it whenever they please.

The Chimp will find his arrogance paid back handily.

Me, I'm keeping the cash I haven't converted to Euros in my mattress.

[buckettgirl]

3. maybe we'll get lucky...

and bush will take many, many vacations. Maybe he will be more focused on golf than on anything else. At least then he couldn't be actively doing something to make it worse.
...i know, wishful thinking...

[BillZBubb]

4. It will get worse.

I think we will see the housing bubble burst in the next few years. That will drag the rest of the economy down too.

Bush* will get more tax cuts through before it happens--or at least he'll make "permanent" the ones he's already got. That will happen the day after the new congress meets.

The other big worry is the dollar and the foreign debt holdings. If China starts slipping, we'll have a major crisis on our hands.

Bush* used up all possible economic remedies just to get elected: tax cuts, low Fed rates, a falling dollar. He's got nothing left. This is not going to have a happy outcome.

[KT2000]

6. For which America?

The increased illness rates that will come about as a result of relaxed pollutions rules will increase the Gross National Product. More goods and services will be purchased because there will be more sick people. This makes corporations very rich. Their families will reap the benefits.

The family of the sick person though will suffer with probable decreased earnings and increased out of pocket expenses for the sick person.

On other words, economic numbers hide many things. But remember - increasing cancer rates are good for the economy.

[CaptainCorc]

7. I don't even play one on DU

I saw in the paper last night that they've raised the debt ceiling during some kind of special session that they delayed until after the election. I hope I got that right...I'm getting really bad on retaining details...urk.

But I do know I'm right about raising the ceiling. What effect does that have? Further devaluation? As a guy currently hiding from creditors, it doesn't seem like going further into debt would be a good plan for ME, but then I'm not a country :-)