I cannot imagine what 3.6 trillion of spending power and 1.75 trillion of deficit. It seems the Americans have no problems about the spending that kind of money. Obama is still hailed as the biggest hero of out times because he has the courage to spend all the money that the country does not have.

He is not afraid about the lender, mainly the Chinese. Usually, it is the rich to lend to the poor. This paradigm has shifted. The majority of the Chinese population is still poor. They are the ones who are financing the reckless spending and waste of the Americans. It does not matter the Republicans or the Democrats, the budget and trade deficits keep on growing.The government and the people just cannot cut the habit of overspending.

GM and other American automakers are asking to bail out again. The government has not choice but to cave in and hand out billions again. No matter how much the automakers take, it will not revive that sector unless they solve their structural problem – labour, pension, and health care cost are just too high.

It will take a structural reform for the society to change the spending habit. The generation Y believes the society owes them a good life. This may be a good time for them to learn they have to do something to make a living.