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Debt, Spending, & Keynesian Foolishness
#8
And the Beat Goes On: Federal debt tops $13 trillion mark. But here is something that is a little easier to wrap one's mind around.

Quote:At $13 trillion, that figure has risen by $2.4 trillion in about 500 days since President Obama took office, or an average of $4.9 billion a day. That's almost three times the daily average of $1.7 billion under the previous administration, and led Republicans on Wednesday to place blame squarely at the feet of Mr. Obama and his fellow Democrats.

That's simply horrible. But note the excuse the S&Gs are giving. That's akin to saying that the next door neighbor is more terrible, because he screws around on his wife every week, while you only do it once a month. Jesus! This does notenhance credibility IMO. It only makes one just less terrible, but still terrible none the less.

In all honesty, this is where I come down on the side of the Austrians, and not on the Supply-Siders. S-Ss don't really worry much about debt. As long as they can keep ahead of the debt, by increasing revenues, they are as happy as a 'bug in a rug'. But you have to keep ahead of debt. And all it takes is for one Bush to come in, and start spending like the drunken Sail..........................sorry about that. didn't mean to malign sailors. And then if you follow it with a SpendThrift, like Obama, the defecation is going to strike the rotating oscillator. And you can definitely count on that one.

Austrains stress the spending part. Quit overspending, and then the incentives will make you even richer and healthier. And they are correct too.
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[No subject] - by Palladin - 03-07-2010, 09:34 AM
[No subject] - by Gunnen4u - 03-11-2010, 07:27 PM
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[No subject] - by WmLambert - 06-08-2010, 08:16 PM
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[No subject] - by mr_yak - 10-26-2010, 12:38 AM
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[No subject] - by John L - 10-26-2010, 01:36 AM
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[No subject] - by quadrat - 10-29-2010, 09:26 PM
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[No subject] - by John L - 12-08-2010, 08:35 PM
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[No subject] - by John L - 01-31-2011, 10:44 AM
[No subject] - by WmLambert - 01-31-2011, 12:39 PM
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