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Debt Relief – Insolvency – Bankruptcy Information » Insolvency » Economics less #2: Many times in US history, economic potentials were squandered by government spending?

Economics less #2: Many times in US history, economic potentials were squandered by government spending?

The most recent example is Bush Jr., isn’t it? Sure he raised federal revenues by more than 20% by across-the-board permenant tax cuts, but then he and republicans in Congress spent it all when we could have started paying down the federal debt and saved social security from insolvency.

Why is Obama missing this lesson by escalating spending well beyond reason, especially on budget items labled “emergency” that are complete nonsense?

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4 Responses to "Economics less #2: Many times in US history, economic potentials were squandered by government spending?"

  1. Liberal Filth says:
    That’s why we need a real conservative.

    Somebody that cuts taxes and spending.

  2. Wes says:
    whether or nor Mr Obama wants to admit it he bows to the FED
  3. vote_usa_first says:
    I don’t like government getting increased revenue, because that means theft of citizens wealth and damage to the economy.

    But because the debt does need to be paid off, and we need to stop government from printing and borrowing, im sad to say we do need revenue – but we NEED to cut the spending. Big cuts. Back to 1990 budget type cuts. Cuts to our world empire. Cuts to our welfare state. Cuts to politician pay.

    Obama like Bush and the rest of Washington for the most part surround themselves with Keynesian economists – a school which sees private saving as bad, and government debt and government size increases as good.

    The Keynesian school sees citizens saving as so bad, it tells governments to then steal wealth from the citizens, and spend it on anything – which is only theft and then malinvestment which creates a bubble somewhere.

    The Austrian school sees personal saving as good, debt as bad. It knows government spending is bad, inflation is bad, and government growth is dangerous not only to the economy but personal freedom and liberty. Knowing that, you can see why politicians for the most part choose the Keynesian views – Obama being no change.

  4. catharsis says:
    Barry is not “missing this lesson”.

    He is a True Believer just like Nancy Pelosi and Harry Reid. They “truly believe” that what they are doing is the correct course of action. That if we just spend “enough”, then everything will be alright.

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