Not being an economist disavows me of really knowing what I am talking about when it comes to the US economy. However I do know that our idiotic representatives and senators who equate home finances to the extremely complex finances of this country are absolutely wrong. Yes, 100% wrong. That is hard to be in our world. For example I learned the following today:

"Economic historians have recounted 1937 in great detail. After four years of priming the pump with government spending - and shrinking the jobless rate from 25 percent in 1933 to 14 percent - Roosevelt heeded conservative advice and went into austerity mode. He slashed spending and tried to balance the budget. The result? Unemployment spiked to 19 percent. End of experiment. FDR sought and received new spending in 1938, and the jobless rate subsequently dropped to 14 percent--Dick Polman, Philadelphia Enquirer."

Until people go back to work our economy along with the rest of the world's major economics will falter. Thus, we should pump money from the military budget and anywhere else into job programs for Americans. I wonder how many jobs could be created if American oil companies and mega corporations such as GE were made to pay taxes.

I highly recommend that you read the entire editorial by Dick Polman:

The American Debate: Deal traps Obama into helplessness on job creation