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of the dramatic situation we face. The Republican strategy of just sitting and waiting this President out until the next election before agreeing to ANYTHING will mean the demise of the U.S. as a tier 1 country.
The problem is, some people are paying down debt and starting to save. Others have bailed from the securities and bond markets because both are volatile and looking to park their money in a money market, CD or other "cash" account. Since the banks aren't lending money either because their credit worthiness requirements are too steep for many would-be borrowers or because their is insufficient demand, money continues to pile up. The banks have to pay FDIC an insurance premium on the money. If they aren't going to be lending any of that money, either to borrowers or other banks, it sits worthless on their ledgers. So having additional money in depositor accounts actually costs them money. So they will charge you to keep your money in their bank.
This is how screwed up things are and the R's will do absolutely nothing to acknowledge the calamity that is upon us. And trust me if they do take back the Senate and the WH next year the situation will only worsen. Newt, "lizard man" Gingrich predicted that with a Republican majority in both houses of Congress and the WH, the recovery would begin on election night 2012. What a bunch of horseshit. They will lower takes even more on the wealthy, shaft the working man, strip unions of any rights they may have, undo the HCR bill, banking and financial reform, etc. and let the free market or "you are on your own" run its course.
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