Updated baseline scenario

Tired of partial explanations of what's gone wrong and what is being done to fix it?

Baseline Scenario have updated their description of the "baseline scenario" that forms the basis of their analysis of what is occuring.

Key points: Situation a little worse than they suspected it to be last time, Obama policies well-meaning, internally consistent but misguided, and that the US situation is more significant than any other.

This would be perfect, to me, except for the last point (see next post).