It's a Worse Con Than 3 Card Monte ...

“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” ~ Henry Ford

"He that lives on hope will die fasting"- Ben Franklin, Poor Richard's Almanac

Basically, 17 cents of every federal dollar is now being spent on servicing the debt. The Dems are in the process of increasing that by up to 40% with the TARP, stimulus package, and the FY 2010 budget. With the entitlement programs consuming about 50% of the budget and growing added to the debt servicing costs, there will be less and less money available for so-called discretionary items like defense. Socialists don’t do tax cuts. They do tax “credits.” And yes, I think the Bush tax cuts will expire. But why shouldn’t they? They were passed with expiration dates, weren’t they? Yes!


Thursday, March 05, 2009

Geithner To Admit Government Borrowing "Crowds Out" Private Borrowing and Lowers the Standard of Living


In a guidance advisory to the press, the Treasury advises that at 10 am, Secretary Geithner will testify before the House Budget Committee on the President’s Fiscal Year 2010 Budget Proposal. In his testimony, Geithner will testify that unless the budget deficit is cut in half the country "will face higher interest rates as government borrowing crowds out private investment, leading to slower growth and lower living standards for Americans."

Of course, Geithner's solution will be, to a large degree, to raise taxes on the highest tax brackets but, since it is the higher tax brackets that are bond buyers versus other brackets, it is not clear how this solution will help. Taxation will continue the crowding out, just at an earlier stage of the money flow, whereby the taxed don't





Josie06 Josie06
56-60, F
4 Responses Mar 5, 2009

My point: Government spending in general, does not stimulate the economy.

Actually, some did think I knew what of I was speaking. LMFAO. I went to seminars held by the Federal Reserve. LMFAO. They KNEW the TRUTH. LMFAO. None of us had a clue.<br />
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Your stuff will be embraced if Obama is unable to clean up the mess Bush and the conservatives made of our once great Nation.(wait a year- ONE MONTH is in fact BS and you know it.) Whatever…DD

Sarcasm always works wonders, eh Dewduster.<br />
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i have a brain, as you do. It is apparent we have come to different conclusions.<br />
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As a former economics teacher, i will ask the same question: "Wonder why the world is not beating a path to your door?"

Speaking of con jobs. Wonder why the world is not beating a path to your door...DD