"Private debt got us in this spending not federal debt."
David Brooks made this point on "Meet the Press." Generally, he made some really good points. I just wonder if he failed to realize that the two wars in Iraq and Afghanistan are totaling some $915.1 billion dollars for what some believe are not wars of necessity. The point, however, is well taken when considering the some $815 billion dollars that largely went to Wall Street banks and AIG.
4 comments:
Those figures are staggering to imagine. Such a deep hole we are in.
Yes, staggering numbers indeed, but it can be done. President Clinton balanced the budget when he entered the White House by rolling back those huge tax cuts for the wealthiest among us and left with a big surplus which President George W. Bush eroded with the wars in Iraq and Afghanistan.
private debt after the govt changed a few rules.
Yep, Zorro! Arianna Huffington calls what's occurring corporatism and not capitalism. I think she's got a point.
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