Quote:
Originally Posted by GreyWolf
There has been no plan forthcoming from the Treasury or the Fed.
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My bad - not quite accurate...
The Treasury did propose a plan in 2003. They already knew there was an underlying problem after having did the most extensive review ever of the US economy.
The Treasury's proposal for a remedy at that time was raise taxation immediately to 60% and hold it there for the foreseeable future. Apart from the shock effect of this - it *may* have worked in 2003, but doubt now.
Either way, the administration filed it in the out-tray within a week and covered the out-tray with six feet of soil
A future admin will have to deal with the problem and meantime, "the economy is solid"
