Debt Ceiling, Foreclosures, Economy

The senate passed legislation to increase the federal debit limit by $1.9 trillion to $14.3 trillion. There is beyond comprehension to add this amount without any bipartisan support. I am concerned that we will spend this debt money faster as a result versus taking prudent steps by increasing it incrementally. I can only hope that the house will take a pause on this one. We have moved outside human understanding with this amount of money and I don't think we have the ability as a country to come to terms with what we are doing given our current level of consciousness.

The economy showed a large increase as companies replenish their inventories. This looks like an anomaly, yet it is growth.

Foreclosures statistics are still my main reference point in determining when we have made the final turn to solid recovery. Same real estate sales were down almost 17% and new real estate sales down almost 7%. If we follow the path of what we did for the banks, home owners would be given a principal reduction along with a smaller interest rate. I don't see any other way to

stop the flood that is picking up momentum. I don't agree with taking this approach, yet given the direction congress and the president are taking, this may be part of the pie too.