The problem with macro economic predictions is that small changes can cause huge shifts just from sheer scale - that's why I simply mentioned these two factors of unemployment numbers and attempts to once again rein in the deficit. I'm not sure at all of their predictive value because in many ways we're in uncharted territory.
Could not agree more on the uncharted territory. The same is happening on Wall Street and it is driving them nuts the old ways are just not applying in this environment.
As for Clinton's balanced budget - if I recall, despite all the acrimony and fighting, that accomplishment was actually a bipartisan effort. I expect no bipartisanship this time.
nterestingly enough the Republican's held the majority in both the House and Senate from 1995-2007. They lost the majority in both after the 2006 election so there was little bipartisanship other than between Congress and Clinton. I cold not agree with you more the _$()%I) contest between the parties is getting out of control. They have totally lost sight of what they are supposed to be doing and rather than doing the right thing they fall inline with what the party wants.
We desperately need term limits but that seems impossible given Congress would have to vote on a change to the Constitution.
