Want To Know What’s Really Happening To The Economy?

Posted on April 11, 2006 by Gaius

Don't bother reading the MSM, read the roundup over at Gateway Pundit. There's so much there, you'll be astonished.

And it makes Hillary's interview look totally bogus, a major bonus.

This entry was posted in Media, Politics. Bookmark the permalink.

2 Responses to Want To Know What’s Really Happening To The Economy?

  1. Jim O'Hara says:
    April 12, 2006 at 3:29 pm

    While I fully support tax cuts (how can more money in people’s pockets not help fuel the economy), usually one expects a *at least* a requisite reduction in government spending. But to the contrary, government spending (even excluding defense spending) is at an all time high.

    Before you get all excited about Gateway’s numbers, consider this: if you measured your success by how much you spent this year, it would look really good if you maxed out all your credit cards borrowing and bought things on credit. You could spend a lot if you borrowed. But we all know that’s a bad thing because eventually you have to pay back what you borrow, and you pay interest on that debt until you can pay back the money borrowed.

    Sadly this is what America is doing at both the consumer and government level. Personal debt has exploded since 2000: (http://www.fdic.gov/bank/analytical/regional/ro20044q/na/images/03e_chart05.gif).

    The US debt actually started to go down in 1999, but again started exploding in 2000. Congress just raised the debt ceiling to 9 trillion. That’s $33K owed to (China/Japan/Korea/etc.) by every man woman and child in America. Nothing like the country mortgaging itself to foreign countries. No national security concern there.

    Celebrate spending all you want, but until we get our borrowing habit under control, we should be concerned. Start first with cutting government spending. The burn rate of a billion a week+ in Iraq would be a good start. And since I don’t feel like posting again, I love our troops and am proud of their tremendous capability to keep America safe. I’m just saddened that those who have never fought are sending our proud troops into foreign lands to implement the largest left-wing big goverment social program I’ve ever seen. Imagine if the Democrats wanted to spend a billion a week of US tax dollars (or worse, borrowed Chinese debt) on a social program to help out New Orleans. Yet we’ll burn a bilion a week in Iraq, helping people that when polled say they don’t like us. Amazing.

    Jim

  2. Gauis Arbo says:
    April 12, 2006 at 3:44 pm

    Did you read Jim’s facts or not?