As everyone seems to know, we're undergoing a credit meltdown due to the sub-prime mortgages. How'd we get here? Simple. Loan money to lots of people who can't really pay the mortgages, but assume that the value of the houses continue to increase so they can keep refinancing until they eventually can either sell the house, or actually make the payments. When the eventual, and inevitable, downturn comes, the whole thing implodes. What a surprise.
Now let's look at the whole economy. The country spends more than it takes in. The deficit grows. We keep borrowing to cover the debt. As long as we can do that, all is "well". But if (when) the day comes all hell will break loose.
Anyways, so now we have stock markets around the world dropping because it looks like the US is entering a recession. Oh really, you think? I wonder what caused that.
Anyways, as you might guess from my name I'm an Ohio boy, with all the midwest values that implies. One of the basic ones is fiscal sanity. You know, spend less than you make and save the rest for emergencies. Compare that to the previous paragraphs. I've always been against making a "litmus test" for a politician. As of right now, I have one and only one issue that I care about. Fiscal Sanity. Anything else is asking my kids to pay for my poor choices.
That I won't do.
Anyways, I had to support Fred Thompson. Now that he's gone, McCain is a weak second. Nobody else is close.
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