A quick question for all the debt-deal haters out there.
It’s a fair complaint, I guess, that the deal gives Congress enough additional IOUs to help Obama skate past the election and into December, 2012 before the next crisis.
But what if it doesn’t?
The last budget the White House presented was written up by Rosy Scenario. Ms. Scenario predicted 3.5-to-4.0% GDP growth, and unemployment trending down to under 8%. But those figures ain’t gonna happen. It seems as likely as not now that we’re due for a ride on the Double Dip Roller Coaster of Doom.
If that’s the case, the next “unexpected” crisis could come in October. And wouldn’t that be a surprise?