In its extensive study of how the Boomer generation is faring, the Wall Street Journal focused mostly on their difficulties, challenges, disappointments and missed opportunities. It had little to say about the outside event no one saw coming, the Great Recession, and nothing at all about the resilience of the individuals moving into what used to be called the “golden” years.
Anyone who reads a newspaper knows the United States is financially doomed. Even reportage from the usual left-wing sources confirm as much to anyone who understands math. Yet one of those sources, the Washington Post, revealed early this week just how bad the situation is.
Of all the explanations, statistics, projections, and conjecture about the Obama administration’s new budget, nothing has had the impact of this simple graph in showing the assumptions, misstatements, and downright falsehoods that are required to “make the numbers work.”
Not only does President Barack Obama’s budget, released Monday, fail to make any real progress in spending cuts, but it reveals a frightening truth: the current fiscal year is on its way toward a federal deficit that will surpass the size of the total U.S. economy.
The U.S. economy's agony endures, as “economic stress” in December escalated, with foreclosure rates a major topic of concern. According to the monthly analysis of the Associated Press, foreclosure rates rose in 33 states, four of the worst being Utah, New Jersey, Nevada, and Arizona.