Best reason to NOT increase spending
September 25, 2009
As if we couldn’t see this coming:
“It’s almost Armageddon if the Japanese and Chinese don’t buy our debt,” Robertson said in an interview. “I don’t know where we could get the money. I think we’ve let ourselves get in a terrible situation and I think we ought to try and get out of it.”
The only way to avoid the problem, he said, is to “grow and save our way out of it.”
“The U.S. has to quit spending, cut back, start saving, and scale backward,” Robertson said. “Until that happens, I don’t think we’re anywhere near out of the woods.”
Thankfully, the American people are also starting to realize that the worst time to increase spending via massive new gov’t programs is when you don’t have the money to do so.
In that respect, having the Dems in controlling Congress and the WH at this time of economic uncertainty may be perfect timing for the country. This is probably the absolute hardest time for them to actually pass legislation of the type they’ve been proposing (cap & trade, health care, higher taxes on rich, etc.). Imagine what they would be able to do if this had happened during a strong economy. It probably still would have been tough, but the opposition would have been a lot less vocal and numerous, in my opinion.