A couple of days ago, Gennaro Bernile, a professor of finance at the University of Miami, handed down these words of wisdom: “The big debate is how do you reconcile shrinking the government with not killing the economy, because the government is a big chunk of the economy, and if you shrink the government, you shrink the economy.”
And you wonder why ivory-tower types have a reputation for being disconnected from the real world? Professor Bernile’s statement is just another version of the too-big-to-fail scam. Instead of calling it failing, he calls it shrinking — the government is simply too big to shrink.
You can just feel the big spenders in Washington chuckling while warning us, “You can’t cut us down to size, because the economic consequences would be too grave.” In other words, they can violate the Constitution, overspend, overtax, and overregulate us, then, when the predictable problems are upon us, we’re warned not to try to attack the cause of those problems because it would cause too much pain. Very clever … very, very clever.
What they don’t say — and, in fairness, most of them probably do not understand — is that if you cut the size of government with a meat-ax approach, the economy would explode overnight. Which, in turn, would dwarf whatever our current bloated version of government contributes to the economy.
Of course, in reality the government contributes nothing to the economy, because it creates nothing. It merely takes money from those who produce products and services that people want and uses the stolen loot to pay its employee-voters for administering programs that are, for the most part, either unwanted or, more important, unconstitutional.
As America continues to look more and more like Greece (or, worse, Oakland), the argument will cosmetically shift to, “You can’t cut the size of government, because the result will be bloody revolution.” Again, very cute.
My take is somewhat different. I believe — and have for more than thirty years — that revolution cannot be avoided. The reason is that politicians have made it clear that they will not stop spending. The only question is whether it will be a revolution that demands an end to big government or one that demands a still bigger government to take care of everyone’s needs.
I can’t wait to see which one it will be.
You have permission to reprint this article so long as you place the following wording at the end of the article:
I'M 100% for PASSING THIS ON!!!
Let’s Take a Stand!!!
Obama: Gone!
Borders: Closed!
Language: English only
Culture: Constitution, and the Bill of Rights!
Drug Free: Mandatory Drug Screening before Welfare!
NO freebies to: Non-Citizens!
We the people are coming
Only 86% will send this on. Should be a 100%.
What will you do?
Mactheriverrat -
According to Treasurydirect.gov, during his 8 year term, Bush II, ran the deficit from $5.728 Trillion to $10.628 Trillion. That's a grand total of approximately $4.9 Trillion. Barry Soetoro, in less than 3 years has ran the deficit from $10.626 Trillion to $15.054 Trillion for a grand total so far of $4.428 Trillion!
This may be the reason why some Americans weren't too upset with Bush vs The Messiah now.
Both have run up the debt - Sorry but W holds the blame too! But not to be out done by the current Socialists
Poor Americans turn a BLIND EYE when Bush and company ran up the debt.
Reminds me of a family that has been living off credit cards for years to only wake up one day and realize how deep in debt they are in. Both blame the other side for spending while both sides were adding to it.
I blame every President who signed every spending bill that every Congress ever sent sent every spending bill to every President.
*** Disclaimer *** StockFetcher.com does not endorse or suggest any of the securities which are returned in any of the searches or filters. They are provided purely for informational and research purposes. StockFetcher.com does not recommend particular securities. StockFetcher.com, Vestyl Software, L.L.C. and involved content providers shall not be liable for any errors or delays in the content, or for any actions taken based on the content.