Every body is angry about having to payback the stimulus, but they are not mad at the Republican Party for their poor spending policies and the 10 Trillion dollar war they lied us into.
There’s going to be a lot of pay back and I question whether it will be the end of our hegemony.

Bush admits he didn’t get an A in Economics

Interesting topic - the answers will only be clear in retrospect and will depend on how long the recession lasts, how deep it goes, if it is followed by high inflation, whether combined with a new or expanded war….. etc.

One could argue that social changes will come and the factors that I listed above will only affect the degree to which those changes hit.

for almost certain:
-The recession will result in a major overhaul of our health care system.
-People will retire at an older age.
-Investments will be made to develop alternative energy, which if successful will change our relationships with Russia and the Middle East.
-If manufacturing is brought back into the US, there could be a resurgence of the middle class/blue collar.
-Younger persons could feel such a finanicial burden from SS and Medicare for the boomers that they become political activists - in the same way that the Viet Nam war motivated young persons in the 60-70’s.

While you are pondering - what will happen with global warming’s impact in the mix?

The recession would be over if polititions did nothing.

Unfortunately Obama has used the economic crisis to push this country into a worse direction.

We will be left with a mountain of Obamadebt, socialized medicine, and a dozen czars telling you how much you will be paid and what kind of medical procedures you will get.

GM will be a black hole that tax money disappears into for generations just like Amtrac and card check will allow Union thugs to rob workers of Union dues in exchange for nothing.

Face it America will be more like Europe.. there will be fewer opportunities for everyone and little incentive to excell.

The non-partisan Congressional Budget Office CBO currently controlled by democrats says Obama’s spending will result in lower growth in the long term.

What we’d BETTER see, once Obama cleans up Bush’s mess, is a new America - an America which can use it’s head - new power plants - new sustainable power production - new power grids - new roads - new bridges - better thought out transporation - better trains - magnetic levitation. And we need a whole new fuel efficient fleet of cars and trucks. Let’s not start anymore stupid wars!

We need a whole new idea that just because you are rich you just can’t buy the toys to tear up America - no more snowmobiles - no more ATV’s for idiots to drive in circles - no more dirt bikes - no more two stroke engines.

And it’s not that this is some splendid view of the future - it has to the future or we aren’t going to make it in this country.

I think that we are headed for a revolution or a colapse. It is not possible to continue to spend in the manner that is being done today. We are spending it on companies that were meant to fail because of thier bad decisions.

I am afraid we will go into Hyper-Inflation, like Germany did during the early 1930’s. We all know what happened next. Hope not, but that’s what I think.
God help us all.

You’re right - it will take 20 years before this recession is over and hard to predict the future.
When we look back at the presidency, regardless of outcome, we will remember what Obama did to elevate our public discourse:

For now, I’m glad that Obama is:
1.Speaking to us as adults regardless of educational level.
2. explaining why he is doing something unpopular with some
3. addressing critics from both sides of an issue without setting up any straw men.
4. granting that ‘the other side may sometimes have a point’
5. demolishing unserious, anecdotal, purely political attacks on his program
6. acknowledging pain to come and focusing attention on the long-term
7. identifying the core long-range economic challenge facing the United States
8 defining leadership as he enacts it

Refreshing and spot on.

much like it was in the nineties, you have prosperous times, and lean times.. this decade is much like the 70s, 90s were like 60s…

overall, social changes occur over several decades, not one or two…

baby boomers were going to change the world in the sixties, they became their parents, in the eighties.
gen xers are already becoming their parents…

Read Saul Alinsky’s Rules for Radicals, that is Obama’s guide

I got news for you…

the recession will be drawn out…

Obama has mathematically made it worst….