[Sangetsu]

The economy will recover, and the basics for a recovery have already come into being. Lower fuel/energy prices, lowered food and commodities prices, lower real estate prices, and the "bailout" of American banks, which has allowed banks to rid themselves of "toxic" paper (mortgage backed securities).

So far Obama hasn't done anything to interfere. He has postponed his plan to increase taxes on the rich (apparently, contrary to his election speeches, taxing the rich does not help the economy), and he has planned to lower withheld taxes from those earning smaller incomes.

The results will be slow to take effect, probably 2 to 3 years, but things will get better.


As for what someone said about a person with a mortgage and other debts getting into trouble after losing their job, yes, that is their fault. Who else is there to blame?

100 years ago there were no such things as pensions or social security. People saved what money they could so they would be on hand in case they ever had a problem. In 1980 about 20% of Americans saved 10% of their income, that number in 2005 had fallen to about 2%. Apparently, personal responsibility (particularly about financial matters) has become lost on Americans.