The Next Bubble, $2 Trillion in Borrowing

[Robert Oak]

A very good blog post, http://www.economicpopulist.org/?q=content/next-bubble-2-trillion-federal-borrowing"> The Next Bubble,$2 Trillion in Federal Borrowing is up on The Economic Populist.

It reviews how Pres.- elect Obama immediately inherits an impeding financial disaster with a massive deficit (fun huh) and what might have to be done.

Obama will inherit an economy that is in recession and ... is likely to get worse before it gets better."
- Stuart Hoffman, chief economist for PNC Financial Services

The whole world is focused on America's presidential election, but people have forgotten that the next president is going to inherit the mess that the current president has left.
There's the wars in Iraq and Afghanistan. There's the recession and the housing bust. New Orleans is still a disaster. But the biggest mess of all that Bush is leaving behind is the fiscal condition of the federal government.

Raw link:
http://www.economicpopulist.org/?q=content/next-bubble-2-trillion-federal-borrowing