Another Economic Crisis on the Horizon

Read this very hard-nosed, objective view of what is happening to our economy.  The message–the crisis will be repeated unless limits are placed on the risky behavior of the financial sector and “to big to fail.”  The financial reform law didn’t do that.  The next time the US will be forced into higher taxes and Aheavily reduced social safety net.

If you want to fix the United States budget, keeping the deficit under control and reducing government’s debt, you must address the risk-seeking behavior of big banks. No fiscal strategy can be credible without addressing the major problem that brought us to this point.

via In the U.S., No True Fiscal Conservatives – NYTimes.com.

About Stephen E. McGaughey
Resident of the City of Coral Gables

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