Reason #8: Uncle Sam can't bail us out - Michael Shulman

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Reason #8: Uncle Sam can't bail us out
Oct 25, 2009 04:00 PM UTC

Michael Shulman

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Filed under: Recession

Reason #8 the economy won't recover in 2010 In the past, the government has increased spending and cut taxes to spur spending during times of economic crisis.

However, Uncle Sam is now in so much debt that this is no longer a serious option. And it looks like we are going to spend another $900 billion-plus on health care reform over 10 years (a lot of money, sure, but about a third less than what Wall Street will spend on bonuses).

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Reason #8: Uncle Sam can't bail us out originally appeared on BloggingStocks on Sun, 25 Oct 2009 11:00:00 EST. Please see our terms for use of feeds.

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