Why US economy could likely withstand a brief fall off the 'fiscal cliff' next year

Article by: CHRISTOPHER S. RUGABER , Associated Press
Updated: December 12, 2012 - 6:34 PM

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ciamanDec. 12, 12 8:27 PM

Well, I see that I am the only person writing in regarding this article. Does that say something about this economy? Sure it does. Forget just about all of the above. 1. There is a giant lack of demand since most people are not awash in money. I have not bought a new car since 1985 and just good sense explains that. The rich will always spend, but the middle class people are out of cash. Now, they are back to spending with credit cards? How long do you think that will last?? 2. Ten thousand people per day are now filing for medicare and Social Security. As their income drops down, you know then what will happend, um? Less spending, people. And there are 75 million baby boomers and that will last from 2011 through 2029. That is the Baby boomer generation. 1946-1964. Just think of that and what will happen when they are all either dead or in retiremment. And people are now living longer and longer. Just where will the money come from? And there are fewer kids, just like Japan. Just a few choice thoughts.