The President has proposed to drain another 1.5 Trillion dollars out of the economy. He thinks this is a path to recovery? Economics 101:
- Taxes take money from the productive private sector and place it in the non-productive public sector.
- The Public Sector, by definition can spend 120% of every dollar it takes in, (called the “Federal Drunken Sailor Management and Budgeting” or FDSMB).
- Any “public sector jobs” created are actually contractive to the economy! Public Sector jobs need continual government outlays to keep them going, which means a continual drain on the private sector, or a continuation of monetary expansion, (ie, government printing presses). Either way, it’s bad for the economy!
Comments: If the Congress is going to run deficits as a result of their FSDMB, the public has no “solemn responsibility to pay their Fair Share” to make up the deficits The solemn responsibility of the public is to throw the rascals out and replace them with responsible representatives.