Spend More, Grow Less

Wednesday 9 June 2010 - Filed under Economy + Government

I have yet to understand how the Demotards justify the idea that in order to get government spending under control, it needs to spend more and put it all on the company credit card. Luca Di Leo via The Wall Street Journal:

In several congressional hearings this year, Mr. Bernanke has warned lawmakers that U.S. budget deficits aren’t sustainable. President Barack Obama’s 2011 budget proposal forecasts a record deficit of $1.6 trillion, or 10.6% of gross domestic product, the highest level since World War II. The government plans to reduce that to 3.9% of GDP by fiscal 2014, but that would still be above the 3.0% of GDP that economists consider sustainable.

It’s almost as if Bernanke is screaming about the 700 pound gorilla in the room while everyone else says “awwww, look at the cute little monkey.”

2010-06-09  »  madlibertarianguy