You can’t finance everyone’s home, everyone’s retirement, everyone’s healthcare, everyone’s student loan, everyone’s bank, everyone’s brand new clunker and everyone’s green fad- and not expect to pay.
We know the math as well as the economists do. It doesn’t take higher mathematical functions to understand that outgo can’t dwarf income for forever.
One plus one plus one plus one equals a lot of money when there is are trillions attached to the One.
And politicians at the federal, state and local level have been so unable to resist growing government that not only does government count for the largest sector of our economy at 41 percent of GDP, but we celebrate the addiction as if it’s a real meaningful addition to our lives.
Third-quarter GDP growth revised upward to 2.7%!!! said the Los Angeles Times as the government revised GDP numbers upward to account for the government spending that the government forgot to mention the first time around.
“We spent what?!!?” said a government auditor who was promptly fired.
And the revision would be great if the revision wasn’t going to come out of your pocket in the form of future tax increases.
“Now, given what’s going on in Washington with the budget debate, it’s interesting that one of the biggest drivers of the third-quarter numbers, as noted by East Shore Partners’ strategist Joan McCullough, was government spending,” reports the Wall Street Journal.
“We are totally reliant on inventories and federal spending which are dicey, unsustainable and at this rate, won’t create jobs,” says McCullough in the WSJ.
So… it has all the hallmarks of a sophisticated, well thought out, intentional Obama economic plan.
Here’s another hallmark: You can expect another crisis- everyday.
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for November 26th, 2014 | John Ransom