Juggling Dynamite

With all the buzz this weekend about the fresh-faced Ryan joining the Romney ticket one might think the smiling duo is a game changer in terms of the economy and recovery. Who knows which team will win more votes in November, but truthfully neither party has made any mathematical sense to date. The fact is that total US federal debt (included unfunded obligations promised) is now about 70 trillion dollars and growing 10 million dollars per minute.  There must be entitlement and defense cuts as well as revenue increases to dig the country out of its current hole.

Here is a direct link.

And the incoming recession will render present deficit projections by both parties overly optimistic. Here is a direct link.

Danielle was a guest on This Week in Money with Phil Mackesy on the weekend, talking about recent developments in world markets and the economy. You can listen to an audio clip of the discussion here by advancing the play bar to 28:50 where Danielle’s segment starts.

Goldman Sachs will not be charged by the Department of Justice for any role in the financial crisis. William Black, U of Missouri associate professor, and Vanity Fair contributing editor Bethany McLean, discuss. Here is a direct link.