Dennis Kucinich accuses the US government of creating a manufactured crisis

[Ian62]

71. There was nothing to stop them from

letting the Payroll Tax break expire and lowering income taxes by 2% for those earning under a certain amount. E.G $50k.

That would have prevented the significant tax hike we are going to see on lower paid workers.

There is a recession coming to America in 2013 from the fall out in Europe.

The tax hike on marginal taxpayers is going to make it far worse.

There hasn't been any real economic recovery - it is just an illusion. Pumped up with $2tn of Fed money printing. It is another bubble - just like the housing bubble.

The Fed's balance sheet has increased by $2tn since the housing bubble burst in late 2007.
But the total money supply is lower now than it was in 2007 despite this Fed pumping - it has not gone into the real economy.
It is being used by the big banks for speculation.
Part of the money supply decrease is due to loan defaults (mostly foreclosures).
The default rate on student loans has just had a huge jump in late 2012.

Real Household incomes and Real median wages have fallen for 4 straight years.
High paying jobs are being swapped for part time, low paid and minimum wage.
The only growth