Common Sense

PERHAPS the sentiments contained in the following pages, are not yet sufficiently fashionable to procure them general favor; a long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defence of custom. But the tumult soon subsides. Time makes more converts than reason. -Thomas Paine (1737-1809). Common Sense, 1776

Sunday, May 27, 2012

Slow learner?

AMY GOODMAN: Where do you get the money [to stimulate jobs]?
PAUL KRUGMAN: [Nobel winning economist] Borrow it, and then repay it later in better times, which is not at all --- that may sound funny, but that's exactly what we've done in the past. --"End This Depression Now": Paul Krugman Urges Public Spending, Not Deficit Hysteria, to Save Economy

So, Mr. Krugman, what about the ~$16 trillion or so "national" debt that has NOT been "repaid later" -- and has increased every year since the Eisenhower Administration -- not to mention the approximately $100 trillion in Social Security and Medicare owed to old folks since they paid in advance?

And you think Uncle Sam knows better what people want than they do themselves as determined by their voluntary buying decisions in markets? And so Uncle will spend that money -- removed from those voluntary markets by coercive taxes and borrowing -- on products and services that folks will prefer to buy instead? And Uncle will provide these products and services at reasonable prices from lasting enterprises? Solyndra for example? And the borrowing -- called "extortion futures" by some because it will be paid by extorting taxes from the kids, grand kids and the yet unborn -- isn't wasting our money, let alone the lives of the kids, grand kids and the yet unborn?

Really Mr. Krugman? OK. I have this bridge in Brooklyn for sale - - -


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