Word: scared
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Dates: during 2000-2009
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...rising rate! This is the sort of spike that?s supposed to scare consumers into thinking recession, and bringing one on by acting accordingly. Read headline - close wallet...
...course, cycles have a way of coming back and biting themselves on the ass, and the potential disaster lurking in the jump in the unemployment number is that it will scare the consumer into closing his wallet. (And unemployment, lagging indicator that is, could rise further even as a recovery gets underway.) A falloff in consumer spending, of course, is bad for everybody - without customer demand waiting for them, businesses will continue to cut costs but not make anything new, and this whole near-recession wouldn?t be long in turning into a real one. That?s the bad news...
With that familiar scare tactic being trotted out yet again (no, the shrinking surplus doesn't imperil current Social Security recipients), it's tempting to turn off the whole sorry show and head back to the beach. But the dwindling surplus will have a real impact on ordinary Americans. To avoid cutting into the Social Security trust fund, Congress may have to slash farm subsidies, tax credits for the working poor and other social programs. A lack of surplus dollars to pay down the national debt helps keep mortgage and credit-card rates higher than they should...
...that obstinate streak scare Condit, leading him to end what Levy cautiously described to close friends as a "passionate" relationship? Was she pregnant, her condition threatening Condit's political career? Did she run away to Brazil, Greece, Singapore? We may never know...
...give away their hard-earned tax receipts: Find "spending priorities" that Americans would have preferred to $78 billion in tax cuts for 2002, and convince them to take their remorse out on the Republicans. (The Dems don?t have anything specific yet besides the Social Security surplus scare, but Dick Gephardt will be waving a list before long...