U.S. Economy "Gradually Deteriorating," Levy Says: Recession Likely in 2011

Here here, I agree with "Average American".

Governement and National Debt does NOT Equal Responsibility!

We need begin to take responsibility for these deficits and debt by taking action now, not later. The longer it's put off the worse the pain in fixing the debt issue will be.

Greece's Debt is 115% of their GDP, and they are in big trouble over they're Debt.

Our Debt-to-GDP ratio is about 94.5%... it's nearing 100%.

It's OUR GOVERNMENT. We need to tell them to take action on this issue. And there are many different ways in which action can be taken to Balance the Budget and Reduce the National Debt. IMO, THERE SHOULD BE NO EXCUSE FOR CONTINUING MAKING US SLAVES TO PAYING THE INTEREST ON THE NATIONAL DEBT!

It's interesting that Levy says recession likely in 2011,what he does he call what is going on now? perhaps he thinks this is the "summer of recovery" that Obama and the Dems seem to think,or want us to think it is.

You really want to solve the problem? Go take the billions we spent in Iraq in the form of oil. When I say "take" I mean just that. Take it from them in any way we have to.

"With 25 million un- and under-employed Americans and 1 in 7 living in poverty, the U.S. economy is even more dependent on spending by the wealthiest; that's a big reason Levy things it's wrong to let the Bush tax cuts expire for families making over $250,000 annually. "

WE ARE USED AU TOOL TO MAKE MONEY.
IT'S TIME TO CHANGE TOLLS,DONT YOU GET IT

will we have one bank,one car company and one construction company for all usa?

$1 per hr are you happy now?

I take full credit for this rally. For a month now I have been telling peeps why the market would rally. 50 postings.The biggee now is the wimps with bonds. Tens of millions of gutless wonders. They have suffered horribly in the last three weeks and many were on the train when it left the station two Fridays ago. Try to imagine those who remained; the lamentation, the gnashing and wailing, the rending of garments. Captain Wimpy is selling his bonds and this will fuel the mother of all bull markets. I grow weary of repeating myself but here is the biggee. Hear much about the 9.6% anymore, the prediction that it would take 30 yrs to return to full employment? No. I have explained that it is related to construction, which is not a fundamental longterm weakness in the economy but results from the Bubble. Peeps now see that they were being booed with all the omens and death crosses and my favorite: the ghost of Septembers past.
RussStahl
Greatest living economist, analyst and prose artist

In the interview David Levy states, "The deficit didn't cause our economic weakness."

While the Federal deficit did not cause the problem, the deficit limits the available solutions to the problem. Had the Federal government had a surplus to throw at the economy when the crisis began, the specter of rising taxes to pay for the growing deficit would not add to the uncertain and elongation of the problem. In other words, we could have bought our way out of the problem had there been a Federal budget surplus.

The structural issue is that the Federal government and budget deficit grow in good and bad economical times. There is NEVER a downsizing of the Federal government and paying down of the Federal deficit. When will we Americans admit that the Federal deficit is a HUGE drag on the American economy and make the sacrifices necessary to live within our means?

get rid of the dollar its worthless