I honestly wish I was smart enough to understand the economy. I wish I was smart enough to know who was. Remember Greenspan? I used to try to understand what he was saying, the guy must be very smart. His IQ is 155, Einstein was 160+, at age 18 mine was 145. (Now it is 63.5). But my score on the rifle range was 239. (Now that is genius in the USMC)
(Did you know that IQ rates one’s ability to REASON! Not your education level or knowledge.)
I am not very educated, but I have ALWAYS known that we could not spend more than we made. Now don’t give me the LOUD argument that, “the Republicans have done this.” I don’t even want to hear “The Democrats done this.” They both are at fault. they both have been in power at one time or the other and for the last 50-60 years we have been steadily headed for bankruptcy.
Every congress has agreed to more spending. More give away programs, more grants. Forgiving more loans, etc. All for the sake of more votes. The politicians saying, “LOOK WHAT I HAVE DONE FOR YOU!”
It is strange to me, that after dreaming up so many programs ( pay you not to grow, pay you not to cut, pay you not to work etc), once they are enacted, YOU CANNOT CUT THEM. They become entitlements. IF a politician does not have the money, he surly cannot cut the programs or he will be voted out, SOOOOOO, the Congress votes to borrow more money to finance these programs, (the ones we could not afford to begin with). Many countries in the middle East and Europe are in trouble for spending more than they had.
Greece is in deep trouble. The Parliament is being forced to cut programs and the people do not like it. I don’t blame the people, I blame the politicians who got them into the mess.
Now this Debt Ceiling thing we are facing. It sounds like the argument given for the BIG BAIL OUT, the sky is falling down if we DO NOT DO THIS! And it may well be. All I know is, AN AMERICAN FAMILY CANNOT BORROW THEMSELVES OUT OF DEBT, THEY SINK FURTHER IN DEBT, THEY ONLY DELAY THE INEVITABLE, someone is coming to come and get the car, the house the furniture the TV, etc.
So my question is, how does China collect on the debt? They sure ain’t coming over to get the empire state building and taking it home. (They cannot have the Golden Gate Bridge I already bought it). They can’t take Ft. Knox, the boys want let ‘em have it.
I am just frustrated at the ‘intelligent (?)’ men we have elected, that do not understand a basic budget, when the pocket is empty, you stop spending.
We are in deep trouble, led there by politicians. If you are a Democrat, it is the Republican’s fault. IF you are a Republican, it is the Democrat’s fault. There should be a mass firing of every one who has been in Washington over 12 years. Some should be fired who have been there less than 6.
Knowing that politicians are making this decision…… the debt ceiling will be raised, and we go deeper in debt.
PS: the Washington creed:
> Tax his land,
> Tax his bed,
> Tax the table,
> At which he's fed.
> Tax his tractor,
> Tax his mule,
> Teach him taxes
> Are the rule.