Spending Your Way Out Of Debt

On 09/02/2010, in politics, USA, by Vox

Can’t be done. Sounds stupid just typing it. And yet, that is exactly what the government is trying to do. They’ve blown through all of our available funds and then some, so they’ve ramped up the spending to record levels…

You know what also doesn’t work? Putting financial and regulatory strangleholds on the people and businesses who can and should lead us out of the economic crisis. Here again, the worse the economic and unemployment numbers get, the tighter D.C. is pulling on the reins.

It isn’t even an experiment anymore. It isn’t in question. The data is available – people just choose to ignore it.

Fortunately, Richard W. Rahn has put it into very easy to grasp terms.

“It is policies that matter, not party. The historical record indicates that if the country adopted the spending levels (as percentage of GDP) of the second Clinton administration and the tax rates of the second Reagan administration, the economy would boom and the deficits would largely disappear.”

Readitall and remember it in November. We may be stuck with a free-spending social Democrat in the White House, but a fiscally responsible legislative branch can impose some sanity in not just the budgetary process, but the regulatory process as well.

In this present crisis, government is not the solution to our problem; government is the problem. From time to time we’ve been tempted to believe that society has become too complex to be managed by self-rule, that government by an elite group is superior to government for, by, and of the people. Well, if no one among us is capable of governing himself, then who among us has the capacity to govern someone else?
~ Ronald Reagan