SOMETHING I FOUND

After some research today, I found an article that made me think. Sometimes we need an outside look to see the forest for the trees. We need to step back sometimes and take a look. The issue is the underlying symptom, which is primary to our economy. All the proposals, being considered by our Government, costs money. How are we going to pay for it? In our homes we want things to make our life better, but we need to access our finances to determine if we can afford it. When we hit our debt limit, creditors will stop lending to us. We then have to either make necessary changes to live within our means or declare bankruptcy because we spent to much and cannot pay it back. Simon Johnson has a good article in the Atlantic written in May. Its a few months old but very relevant. A short description of the article is below and the article is several pages long, therefore I thought a link would be better. Take time to read it and let me know what you think. Remember, its food for thought. I think its time for our Government to start living within its means.


The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we’re running out of time.
by Simon Johnson

Full Article: http://www.theatlantic.com/doc/200905/imf-advice