The Federal Home Loan Bank of Chicago held an economic conference last week at which leading nationally known economists discussed the mess we are in. There were democrats and republicans on the agenda who spoke. The one common thread that seemed to run throughout their comments was that the U.S. is on a financial cliff; a cliff we are on the verge on falling over the edge. Probably not this year nor the next; but no one would take bets on the next five years. Our debt and deficit situation is untolerable.
Even though some disagreed with the Paul Ryan plan as not containing specifics, they did agree something needs to be done with our budget and spending programs as a nation.
