1) Business as usual: More proof that the financial reform bill coming out of Washington is eyewash. The credit agencies get a free pass.
2) Just like Cash for Clunkers, Cash for Caulkers, Cash for Appliances, after the tax breaks end as they are now doing with the housing market, the positive numbers that some liberal economists would tout as proof of a a strong housing recovery start to fade away.
(Additionally, and on a macroeconomic scale, does anyone want to make a bet at what's going to happen when taxes go up next year when the Bush tax cuts expire? The Bush tax cuts act like a tax break for the greater economy in the same way that all these much smaller "Cash for" programs did; when the tax cuts go away, it's a sure bet that we are headed for the doldrums in the very same manner that auto sales slumped after Cash for Clunkers did.)
3) Even liberal news outlets are predicting a dire November for Democrats.
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