Observe the line at McDonalds vs almost any other fast food restaurant, especially in the morning. The dollar menu is king. It isn't because people like the taste of cardboard, it is because they need to save.
Yes, restaurants have not completely dried up, but we're talking $20 to $50 generally and American's are not savers. But ask those same people to spend $500 to $4000.00 and they don't have it. The ones that did 4 years ago, don't now. It isn't there. I can promise you this, I see it in action every day. That is the discretionary spending I'm talking about.
I don't care where you stand in the food chain, the value of your dollar has tumbled sharply.
I'm not praising Bush, he was wrong with starting the bail out business. Obama put it on steroids. Both are wrong.
Whoever stated that it should be up to people to pull them selves up by their own boot straps, absolutely. We need that attitude of a generation of old. But we don't need an extra burden of having to pay for trillions of dollars out of our pockets along the way.
If you don't understand Trillions, lets put it in perspective:
How much a trillion is in time:
If you count backward, then:
1 million seconds = 12 days ago
1 billion seconds = 31 years ago
1 trillion seconds = 30,000 B.C.
Let’s Measure a Trillion in Money
With about 305,000,000 people and 111,000,000 households in the U.S.
$1 Million is 1¢ per household,
$1 Billion is $3.28 per person and $9 per household,
$1 Trillion is $3,280 per person and $9,000 per household
If a person’s salary is $40,000 per year it would take:
25 years to earn $1 Million
25 Thousand years to earn $1 Billion,
25 Million years to earn $1 Trillion
If you lived to be 80 years of age, to have:
$1 Million you would have to save $34 each day of your life,
$1 Billion you would have to save $34,000 each day of your life,
$1 Trillion you would have to save $34 Million each day of your life