Roubini is one smart man!
If the repubs get power in 2010/2012 they will need to usher in significant budget cuts. IMHO ~15 to 20% of the entire federal budget including entitlements. This will obviously not be popular to all who are making it/thriving on the public dime...
Someone wiser than I needs to figure out how to repatriate jobs to the mainland USA.
As an aside, I am now an entrepreneur after 35 years in the military industrial complex... When contemplating a new initiative with other investors, within an hour, the decision was reached to not build new capability in the USA; but to source from China because of US tort liability, environmental restrictions, and over regulation. I am not talking about unscriptural pillaging of the environment, or the unscriptural exploitation of labor... (all investors are born again) but this is our current climate for new manufacturing/production. The end decision was just to market, install and service... not MAKE the product. IMHO we as a nation, cannot long prosper with these groundrules.
"Live simply. Love generously. Care deeply. Speak kindly. Leave the rest to God..."