SEARCH BLOG: ECONOMY
Bill called yesterday as he does every few months. He likes to get another opinion about the economy.
Usually, Bill has some formed opinions about what the future course of the country ought to be. He has spent considerable time working with state and federal government and has many connections as a result. Still, this time, Bill seemed a little at a loss for direction... at least up. It's just that there seem to be more arrows pointing down than up.
After dancing around the issues for awhile, he asked what I thought needed to be done to avoid the federal government debt reaching 70% of GDP in 10 years. It wasn't so much what needed to be done as much as how in the world can we do it? We have a bloated government that continues to grow. We have a Congress and Administration that simply refuse to see the writing on the wall. We have a gutted industrial sector that no longer provides the underlying structure for a "service economy." We have "experts" saying that it is time to raise taxes to fix all of this.
A sane person would question the logic of creating more debt when current debt is unsustainable.
Who said that our government officials and their cadre of experts were fiscally sane?
The answer: you already know it.