Living within our means
Monday, February 05, 2007
Well, El Presidente submitted a new budget to Congress today: 2.9 trillion dollars. Interestingly, 10% of that is borrowed money - deficit spending.
I have long disagreed with this model. I find harmony in Keynesian economics (as I've stated before) and that states that the government should slow down spending in booming economic times. I guess that's hard to do when you're funding a foreign war (the Pentagon gets 630 billion or so this year - 20% to 25% of the total budget!)
I also love the fact that the President is projecting a small budget surplus in 5 years - well after he's out of office. This is the "I'm going to spend all I want and let the next guy (or gal) clean it up" mentality that causes nothing but problems in the future. How can we fix this?
I have long disagreed with this model. I find harmony in Keynesian economics (as I've stated before) and that states that the government should slow down spending in booming economic times. I guess that's hard to do when you're funding a foreign war (the Pentagon gets 630 billion or so this year - 20% to 25% of the total budget!)
I also love the fact that the President is projecting a small budget surplus in 5 years - well after he's out of office. This is the "I'm going to spend all I want and let the next guy (or gal) clean it up" mentality that causes nothing but problems in the future. How can we fix this?
posted by Burton at 9:12 AM
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