EconoMeter: Who is Thankful for What in this Economy?
Saturday, November 26, 2011
San Diego Union-Tribune -- The question: Can we be thankful for something going right in the economy this Thanksgiving weekend?
Norm Miller, University of San Diego
Norm Miller Answer: No
While corporate profits are hitting records, sales and jobs are growing slowly, housing is more affordable than ever and you may be able to soon buy a Greek Island for the price of a La Jolla home, I am totally miffed that the Super Committee has squandered our best opportunity to reach agreement on a budget deficit plan. No bills could be attached to this committee’s plan and a clean piece of legislation is rarer than an albino spotted owl. If they can’t agree then Congress will not likely agree and such stagnation will cost the stock market trillions of dollars, result in delayed public offerings and far fewer new jobs over the next year. It is incomprehensible that extreme positions create more harm than the good that could have been accomplished if one party dictated the budget plan. Now we will be inundated by finger pointing and blame “news” but no solutions. (Full Story)