Just something I was hoping you guys could help me with. If George W Bush increased the size of the Federal Government by 72%, which doesn't even include the TARP bailout, half of which was spent under his watch. If after such a huge increase in spending (more than twice the increase that occurred under Clinton) we find ourselves in a recession. Why would someone's first impulse be for the Federal Government to spend gobs of money that it doesn't have? And after spending gobs of money (and adding 5 trillion to the National Debt) and still finding yourself with the longest period of hyper-unemployment since the Great Depression, why would you continue to spend well over a trillion dollar a year more than you're taking in?
And how long can we continue to remain solvent borrowing 8-10% of our total economy just to achieve 2% in "growth?" TIA.
And how long can we continue to remain solvent borrowing 8-10% of our total economy just to achieve 2% in "growth?" TIA.
Comment