Wednesday, June 29, 2011

Uh-oh, it's 1937 again.....

The Democrats are saying they'll vote against a hike in the debt limit unless they get some increased taxes.  In short, they're doing exactly what FDR did to end the temporary turnaround in the mid-1930s, which extended the Depression into World War Two--and given that they're talking about "increased revenue" instead of "raising tax rates" (their real goal, of course), they're being dishonest about it, too.  Given that business needs to be able to trust the regulatory and tax environment to plan for the future, this is saying some seriously bad things about where our nation's economy is going to go.

Praying that people will realize that throwing money into "make-work" projects is not the path to prosperity, but it appears that the Keynesians have the upper hand here.  Well, actually, the hyper-Keynesians have the upper hand here, as I don't think Keynes was this foolish.  My apologies to Mr. Keynes.

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