Stop Coddling the Super-Rich

[Ail]

Generally speaking I believe the biggest issue in the US isn't the government debt but the debt held by the households.

Due to the high level of debt (that was increased by the latest crisis) that many households have, any stimulus that the government could do isn't likely to help the economy much ( which is the reason for the weak effect of the latest stimulus).
The reason is that many households are struggling with debt or trying to reduce it and as a result any extra money they will get through temporary stimulus or tax cuts will go toward that debt and sadly paying debt hardly create jobs..

That is one of the big issues with the US economy in my view. Easy access to credit boost sales of product in the short term but actually reduce them in the long term as people have to pay that debt afterward and the finance industry just doesn't create that many jobs based on the debt it holds....

It's better for the long term to haev the majority of people's income go toward the purchase of manufactured good than toward paying interests on debt ( especially credit card debt where the interests are punishing and really reduce your buying power..)

 

Carrying a credit card balance is like the worse thing you can do for the economy.....

 

Before the economy starts kicking and screaming again, that debt needs to be adressed ( it was ignored for decades as the boost in the real estate market allowed people to keep piling on more debt with little effect as the price of houses was increasing too...)