Saturday, October 23, 2010
A Brief History of Government Spending
Politicians of both parties are engaged in reckless, unaccountable, out-of-control, spending. The Story of Spending tells the true story of government gone wild.
It would be very interesting if an economist did a study on the rate of inflation in the areas where third party payers, particularly the government, comprise the majority of purchasing volume-- such as healthcare, education, and housing-- and compare the results to a basket of goods where people must shell out their own dollars.
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Politicians have an incentive to spend other people's money and a short horizon. Until these are changed the debt will continue to pile up. What bothers me more than anything is the costs of cleanup because people don't do their job. Somebody has to stand up and say, "I can't sign all these foreclosure documents because they are overwhelming me. I have to read them." Instead people robosign and so here we go again!
ReplyDeleteIf the Fed had been doing it's mandated job in 2005-2006 of overseeing the banking system instead of repeatedly stating that the housing market could lead to a recession because it was localized we wouldn't have needed the bailout.
so how do you stop the State Party from increasing spending, year after year?
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