ArkansasSports.com Articles
Why the US debt crisis is a good thing
Date: 2011-07-28T08:32:50.357
Author: AAA Staff
Editor note: Paul Krugman rightly notes that a reduction in federal spending will result in pain for many Americans. But what he fails to tell these Americans, especially low income working people he pretends to love, is that the cost of the borrow and spend policies advocated by second generation New Dealers is persistent inflation, a diminution of purchasing power that is just as surely killing the hopes and dreams of all Americans.
Teaser:
The problems (pain) that arise out of the debt ceiling fight are offset by the problems (pain) we already have now. It does represent a change in picking winners and losers. Washington and Wall Street prosper (bonuses, baiouts, reelection) with the status quo ... the rest of America pays for it. It is time to upset the apple cart. Throw the bums out.
Number of Views: 728
View original artilce: http://blogs.reuters.com/christopher-whalen/2011/07/27/why-the-us-debt-crisis-is-a-good-thing/
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