Bad Prognostications for Coral Gables’ Future

Being cautious in trying to resolve the budget crisis in Coral Gables is equally dangerous.

…the administration has lost credibility with the public and the chances of a renewed fiscal expansion have disappeared. With the Federal Reserve cautious, too, the likelihood of a lengthy period of weak growth and heavy joblessness is high. So, too, are the chances of domestic and global political friction.

via FT.com / Columnists / Martin Wolf – Obama was too cautious in fearful times.