Friday, February 20

Self Portrait V

Friday. Britain's national debt, I read, could be reach £2 trillion or £33,000 per man, woman and child. Who can forget the National Debt Clock in Times Square from Reagan? I don't recall the per household liability peak, but the clock removed following Clinton's balanced federal budget. The swings are mind-boggling, really - these numbers should take a generation to shift but here we are again at the bottom of the barrel. No wonder nobody really seems to care or if they do - so what? The stim-u-lator will lower taxes to the middle class, which is at least better than only the top 1%. Many economist so hope we buy ourselves out of this ticket but unlikely: with no savings whatsoever Americans are likely to ... save. En masse. Or at least pay their utility bills. Remember Bush's one-off cash-cheque last year? Neither do I. In fact, I can't even say the amount - six hundred bucks maybe? - and cost the government billions. Straight to the utilities. Or gas. Or the mortgage. The cash-back plan like throwing a deck chair off the Titanic. Bush being the ship's captain. I do think the US recession will turn for the better sometime next year as it has always done since I have been alive. The lingering perception, however, will last perhaps years beyond like 1989-92 when housing prices bottomed in 1995 and some cities like LA, even later. At least we can look forward to spring and happily, daffodils poking themselves into the sun. Life isn't all bad. In fact, it is pretty good.