Monday, June 06, 2011
"Gutting it out" - Paul Jacob
I'm inclined to agree with this.
The attempts to artificially create a good economy don't seem to be working.
Plus, the debt obligations are surely counter-productive...
The attempts to artificially create a good economy don't seem to be working.
Plus, the debt obligations are surely counter-productive...
Paul Jacob includes this in his article at Townhall.com:
"What we’re talking about here — 'gutting it out' — could, alternatively, be called 'freedom.' Left to our own devices, without government bailouts and jobs programs and subsidies and assorted fine-tuning, we Americans can still dream and build and innovate and grow, getting better each year at producing the goods and services that we each need to live our lives and pursue our own happiness.
Can’t we?
And how much more painful could it possibly be for us were Uncle Sam not to borrow trillions more dollars? After all, we’ll have to pay back with interest those loans used to 'create jobs' that don’t seem to actually get created. Or, if created, prove unsustainable. Should we have expected that borrowing money to hire people for non-productive, make-work jobs would lead ineluctably to spectacular economic success?"
