It seems all but certain that we are headed for another recession in 2013, unless drastic changes are made by the federal government to reduce the spending, reduce our debt and increase employment. The current administration’s policies and bailouts have done little and the Republicans’ plan is unproven and may or may not provide a solution. So we all can look forward to more of what we have been trying get out of for the past several years. The economists who authored the book “Aftershock,” were the only ones to predict the real estate collapse that put us in the current debacle, and they are now saying, along with a lot of other economists, that the next one in 2013 will be worse than the previous one.
The stalemated Congress is oblivious as they continue to blame each other, and the president hasn’t been able to broker a deal that will satisfy either party. So much for his “I will bring the country and Congress together” speech that he spouted over and over prior to his election. As the national debt continues to climb (currently around 16 trillion) and unemployment remains about the same, and with all of the political focus on campaigning, it appears to be a foregone conclusion that 2013 will a very tough year. There is one glimmer of hope, whoever gets elected in November if they can get the wheels turning in the right direction of spending cuts and increased employment, we might be able to stave off the worst of the coming recession. But that’s a big if, especially if the current administration remains in power and Congress remains split, we will all be tightening our belts as we scramble to survive. So the bottom line question that you need to answer come election day is, do you want more of the same, or do you want change—-sounds very familiar to the last election.