Quote:
Originally Posted by Minte
Then maybe it would make sense to STOP spending at the rate this administration is spending. TAX & SPEND has always been the mantra of the democrats. Why is that?
|
As opposed to DEBT & SPEND of the republicans? Reagan exploded the national debt, George W Bush added 7 trillion or so.
You think Bush spending billions while cutting taxes on the rich was a success? You think the economy was better after the removal of financial sector regulation and years of Bush running up debt?
It's just conventional economic theory to stimulate the economy as both Bush and Obama did/are. However the USA is in such a deep hole with the manufacturing sector collapsing and a huge amount of long term unemployed that stimulus won't cut it.
It's just the slow and gradual collapse of an empire that got into too many wars, let corporations shift jobs overseas while taking profits in the USA and removed too many regulations and let the financial sector's greed run rampant.
Americans will have to accept a lower standard of living and for the first time in many years thanks to the greed of mostly baby boomers, the next generation will be worse off financially. Many will just have to accept a huge house and bling isn't necessary for a happy life.