It’s August 2 and many thought today would be the financial market armageddon – if we didn’t raise the debt ceiling by this date. Well, it looks like the debt ceilng will be raised and now the world markets can dance.
But don’t dance too much. We still have a few problems. The economy only grew about 0.8 percent in the first six months of the year. Twenty-five million Americans could not find full-time jobs as of July. Little remains of the ferderal stimulas money. The price of a gallon of gasoline has doubled since 2008. Millions of foreclosed homes remain empty.
File Under: Kick the can down the road