Does this bother anyone else the way it bothers me? What would this mean applied on a personal, rather than federal, level? "Our household budget is really kinda strained this month, honey, so we need to replace the water heater and the window panes and reshingle the roof." Uh, what? Has this man never had to balance a budget?
I don't see this downturn ending for quite some time. Not unless we default and remonetize - the national equivalent of going bankrupt and walking on debt. And even then, the effects are going to last a long time.