National debt

When the economy slows down what do you do? Well you tighten your belt, watch your spending, try to be out of debt, you know, common sense stuff.   What does the government do? They blow money on make work projects in hope that everyone else will be tricked into loosening their belts too. Problem is we’re not stupid.  It’s called Keynesian economics and it doesn’t work. It didn’t work with QE1, it didn’t work with QE2 and you can bet your boots it’s not going to work with QE3.
If you recall, on Obama’s inauguration day the U.S. debt was $10.6 trillion. Obama has added $5.33 trillion in new debt in under four years. It’s now just shy of $16 trillion!!!  Remember what he said about President Bush adding $4 trillion in new debt over an eight-year period. In one of his campaign speeches he said Bush’s debt record was “irresponsible, unpatriotic”. But we looove to hate Bush don’t we.
Obama has been spending money like a drunken sailor. Right out of control. This is money he doesn’t have so where’s it coming from? Debt! He’s enslaving the next generation in crushing debt. So much so that short of a miracle there is virtually no hope of ever recovering from it. So he soldiers on in right Keynesian fashion blowing more money on QE3 and horror of horrors Obamacare!  Anyone who thinks universal health care is a good thing needs to sit in the emergency waiting room in a Vancouver area hospital. A 4 hour wait is fairly normal.
Probably the best case against Keynesian economics going as QE3 looms is the mess it has created in the U.S. economy. I’m really glad our prime minister just gave it lip service. After all he was an economist, not a lawyer.

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