The dentists expressed concern about the U.S. debt and current deficit financing, wrote one dentist, “Any ‘recovery’ in the next three or four years will be temporary, as the entire economy is now completely dependent upon debt and unsustainable deficit financing. The combination of the current expansion of the money supply (money printing) with the increase in debt will ultimately result in runaway inflation and massive lender losses of purchasing value. Workers will be taxed heavily and retirees will see a cut to their benefits, resulting in less spending and a declining economy.”
This week, in Ben Bernanke’s latest speech on the state of the economy, he emphasized cooperation and creativity to deliver fiscal clarity–in particular, a plan for resolving the nation’s longer-term budgetary issues without harming the recovery–could help make the new year a very good one for the American economy.
29% of the dentist respondents to The Wealthy Dentist economic survey believe that perhaps they are seeing an economic recovery on the horizon, while 4% believe that an economic recovery is already here. 2% think a recovery is coming soon.
“Recovery is here but it is slow and not very energetic. We should be glad our recovery is growing and not declining into recession like most of the world!” responded an Illinois dentist.
The generally negative tone of the survey responses do not mean that dentists have not seen success at their dental practice.
Wrote a Ohio dentist, “Thankfully, our practice is increasing in new patient numbers and gross and net income even in these generally poor economic times. We’ve made many positive changes in our office that have caused this to happen even during these tough times. We also track and study just about everything our office does, including dental marketing. Sadly, though, I don’t see any economic recovery for the nation and many parts of the world anytime soon.”
Here are some more of the dentists’ comments on the economy —
“Probably will get worse as insurance fees for dentistry rise and more and more people drop coverage to save money.” (Kentucky dentist)
“Everyone can’t get ‘freebies’ from the govt forever just wish Washington was smart enough to realize it.” (Florida dentist)
“I believe that the new taxes and fees that are necessary to fund ACA will kill any economic growth. Government has too much input into what we can and cannot do.” (Oregon dentist)
“We are a deteriorating nation, the riots in Greece are a fraction of what will happen here when we can’t give all the free stuff away.” (Minnesota dentist)
“Until congress makes some decisions, the uncertainty will kill any recovery. All the tax increases from Obamacare will cause more unemployment at least for awhile.” (Texas dentist)
What are your thoughts on the future of the U.S. economy? Do you see a economic recovery on the horizon?