Saturday, July 30, 2011

"The Beatings Won't Stop Until Morale Improves"

I though the above quote on National Public Radio today, to be quite appropriate in describing the desire to cut government program spending in a time of economic downturn.

I also saw in the newspaper, a quote from Republican Senator Mitch McConnell, "The debt they ran up in the first year of the Obama administration is bigger than the last four years of the Bush, combined."

Well..... yes.  But the more-complete story is that the Bush administration left the US economy in such lousy shape, both through tax cuts and lack of oversight of Wall Street, that Obama arrived to find an gaping economic black hole.  We call it the recession.

And while the popular sensibility is that the US citizenry pays too much tax, the fact is that US tax rates are lower than they have been since the 1950s. 

Talk about fiddling while the empire burns..........

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