The nation's economy

Let's talk about it here.

California is about to run out of money
I heard that some people who usually get tax refunds might get an IOU instead :faint2:

I like what you said, Carol. my english teacher last semester had me thinking that we were going into another Great Depression! I'm scared of running out of money, that's why I want to find a job. I hope everyone else is doing alright!

This topic is extremely complicated, however I highly doubt that anyone will get an IOU for their tax return. There would be a revolt if that happened. I live in California so I am versed on the issues for this state.

What will most likely happen is that funding will be pulled from much needed programs for the elderly, the disabled, and low income individuals. Education programs for children and public works will also feel the sting. More people will lose jobs but it won't last forever. The economy won't fix itself overnight because the problems at hand have been building for decades.

We are not in a Great Depression, but we are in a depression. Everyone will have a different solution because each one of us has a different set of circumstances.

The most important thing is to have faith...

The current economic situation is why I'm not all for the Consumer Product Safety Improvement Act. While, in theory, it's a great thing because we want to make sure any product our children come in contact with is safe, it is going to cripple smaller businesses. Large manufacturers will just up the price of their products to make up for the additional expense--which means we'll be getting hit in the pocketbook even more during an already difficult time--but the smaller guys may not have that option.

I live in a highly regulated state where it is not cost effective to do business. Many businesses would rather move out of Massachusetts or go overseas than stay here. This puts a heavier burden on the residential taxpayers, in addition, it ups the unemployment rate. The work force complains about losing jobs overseas, but then we have this new law that will make it even harder for companies to do business.

Now, if in implementing this law, trade with China--the origin of toys from the two huge recalls from last year--was impacted and we were able to bring more jobs back to America and make it cost effective for companies to do business here instead, then I'm all for that. Since lead paints aren't really used in America anymore and since books are printed with materials that have a lead content less than the allowable amount, we could then repeal the law and boost the economy at the same time.

I just don't see the government being smart enough to do that.