It is being caused by excessive debt on every front. The servicing of that debt is consuming everything.
You can't spend your way out of debt.
Obama is increasing the debt of the country while at the same time reducing people's incomes by wide spread taxation. From carbon taxes, healt care taxes, elimination of tax deductions and increased in tax rates.
All the wrong things.
So things will get worse.
Both Bush and Obama (even more so) have the same solutions to our recession....”more of the hair of the dog that bit us.”
Unrealistically low interest rates and too much easy money—that caused high debt speculation in housing and derivatives and much else—that caused this bust?
Solution: even lower interest rates and even more, dramatically more, easy money, spending and debt creation to solve it. Right?
After all, isn’t the best cure for a hangover, more swigs at last night’s booze bottle?
Morale: Our politicians have the same problem solving smarts as a wino. That their short term fixes cause the longer term problem to become ever more serious, is analysis miles over their heads.