Along with a deflating perfect storm bubble, the US economy is facing a crisis in confidence. These trillion numbers–1,1,3, and 10.6; Obama’s stimulus package, the deficit, the budget and the debt–have us all freaked out. There is now even a market for shorting the US government.
According to Senator Corker, congressional talks with the auto CEOs and UAW broke down when the UAW refused to agree to a date that the auto companies wages would be competitive.
Americans who value this country’s competitiveness should demand no less. You want a fiscal stimulus–what day does the balanced budget amendment go into effect?
And while you’re at it, quit holding a regulatory carbon nightmare over American industry’s head: sign the Blackburn bill to have an honest decision from Congress on cap and trade.
Consumer and corporate confidence would change overnight.