The US Federal Reserve will slash its growth forecasts and predict higher unemployment when it releases updated economic projections this week.
The Fed will release the latest forecasts made by members of its rate-setting open market committee on Tuesday, alongside the minutes of their November meeting, giving a complete picture of why they launched a new $600bn round of asset purchases.
The revised forecasts will show how the Fed became much more pessimistic over the summer and also highlight fears among a few members of the FOMC that some of today’s 9.6 per cent unemployment rate is structural and will take years to cure.
See, there is the trouble right there…$1.6 Trillion more debt just isn’t enough to “fix” the economy in Keynesian economics. We need to spend more and get more in debt. These half-hearted measures are just not going to do.
It’s like our education spending…just think how bad it would be if we [i]didn’t[/i] spend that money. It’s for the kids! Think of the children!
Obviously, our taxes are too low. If we raise taxes more, that should fix the economy. All those companies making evil profits are the problem.
Arrrrgh! Have we finally had enough Libralism in America? They are literally and figuratively BANKRUPT! Sadly, they are taking us all into bankruptcy with them.
What the Progressives will point out, is that their efforts to perfect mankind are side tracked by those who won’t get with the program. If everyone would just line up like sheep and listen to the elite and their intellect then the objective they are trying to implement for our own good would come about all that much sooner.
Because of our obstinate resistance, $1.6T is not enough, gotta spend more.