Monday, December 03, 2007

W as Little Dutchboy

In the course of the next year or so, the US government has some serious financial difficulties it needs to work out. Primarily, the ballooning national debt is about cross the $10 trillion dollar threshold. Instead of having the debt paid off within a decade, we're not mortgaging our future for more than a decade. On a deeply interrelated note, is the current financial crisis that is roiling the markets. Not surprisingly, the CEO of Countrywide is eager for Fannie Mae and Freddie Mac to have temporary increases in the volume of loans they can take on. Will W risk his political capital and any notion of being called a fiscal conservative? Or will he appeal to his base and help the artificially rich people continue to enjoy the lap of luxury that fewer and fewer people are able to share.

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