"Revenge of the Gult" by Paul Gruman, found in The New York Times expresses his opinion of the economic crisis. He refers to a speech made by Ben Bernake on the econmic crisis. This article was ment to inform readers (Americans) of the past "crisis" that in Gruman's opinion "is nothing compared to whats happening today". Also he explains how the crisis came about, with massive borrowing for homes and credit card spending.
As more people are of age to obtain a credit card, debt in America will continue to rise. This seems like a never ending cycle that hopefully our new President can fix. The outragious deficit that America has is very scarry because it feels as if another country owns the US. I hope this will end soon, but i am afraid it has only just begun.
