Thursday, July 14, 2011

Big Government: Obama's Debt Rebellion

Obama's Debt Rebellion

A good history of debt and federal government finance over at Breitbart's Big Government blog. I don't totally understand it but it good to see the history. This post makes the point of making sure that our government pays off their debts and remain in good shape financially.

If there was a time to really get back into decent financial shape now is the time. Otherwise when will we finally get out of this "Great Recession".

1 comment:

Inspector Clouseau said...

During the last Presidential election, CSpan2 Book TV aired a program where the author discussed the results of his or her research, which suggested that something like 5-10% of Democrats , and 5-10% of Republicans, essentially debated and defined the ideological constructs of each party. The point was that the vast, vast, vast majority of the citizens of this country have their lives dictated by the most active and vocal members of society, who also happen to be more privileged .

I strongly suspect that the same thing is occurring with the debt ceiling debate. The debate is not really about the debt ceiling per se, but rather a very deep, long-standing debate about the role and size of government. It’s never been resolved, and never will be resolved in our representative democracy. However, in the mean time, the regular folks in our society run the risk of being irreparably damaged. The elites (the upper and upper middle socio-economic classes) on each side of the fence have theirs, their corporate contributions, decent jobs and income, and will fare just fine economically. It’s the ordinary citizens (lower middle socio-economic class) who will most likely get screwed, no matter which side ultimately prevails in the short term.

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