Lest you people think that America can weather the frantic spending of congress as directed by Obama's administration, read this article about what happens to countries who spend wildly as if money were free. It's quite sobering and scary.
By Richard Rahn over at the Cato Institute by way of WashingtonTimes
Here's an excerpt...
The following should be known to most members of Congress. The size of the U.S. government is already well over the welfare and economic growth-maximizing rate. Taxes on upper-income Americans are well above the revenue-maximizing rate. Thus, for those in the political class to further increase the size of government and government debt as a percentage of GDP is grossly irresponsible. It is almost as if they had a death wish for the country.
Here's an excerpt...
The following should be known to most members of Congress. The size of the U.S. government is already well over the welfare and economic growth-maximizing rate. Taxes on upper-income Americans are well above the revenue-maximizing rate. Thus, for those in the political class to further increase the size of government and government debt as a percentage of GDP is grossly irresponsible. It is almost as if they had a death wish for the country.
It's hard to make sense of what Chairman Zero, Pelosi and Reid are cramming down our throats unless it's that they really do want to destroy what America is, perniciously and intentionally morphing it into some grotesque amalgam of a soviet-style nanny state and a second-rate, dying democracy like the old European countries.
Try to have a merry Christmas in spite of what's happening to our country.
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