We have in the UK an enlightened administration. Not perfect, just enlightened relative to what went before.
Now those in the cheap seats can’t restrain themselves, beating Osborne about the head and shoulders at every opportunity (and looking like morons in the process) for his “severe” cuts to public spending and just at the worst time. They are not severe and any time is a good time.
In 1939, ten years after the crash on Wall Street, FDR’s Secretary of the Treasury, Henry Morgenthau, Jr., told the House Ways and Means Committee:
“We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong…somebody else can have my job. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises…I say after eight years of this administration we have just as much unemployment as when we started…And an enormous debt to boot!”
Any fool knows this stuff does not work. You don’t have to be a Wall St type (many recently bailed out for poor decision making) to understand this reality. If it’s fluff, and it is, do away with it.
We asked an average citizen – a Fresno, California cattleman - what he thought about the issue. “Well, sort of like taking water out of the deep end of the pool, and pouring it back in the shallow, ain’t it?” Exactly so.
Is there some sort of slush fund reserved for public emergencies? No. The money comes from 1) taxes, or 2) borrowing or 3) a complicit central bank (inflation). All three rob from the private sector, which is infinitely more productive than the public.
Public spending – at best a wash. Get rid of it.
Robert Craven
Now those in the cheap seats can’t restrain themselves, beating Osborne about the head and shoulders at every opportunity (and looking like morons in the process) for his “severe” cuts to public spending and just at the worst time. They are not severe and any time is a good time.
In 1939, ten years after the crash on Wall Street, FDR’s Secretary of the Treasury, Henry Morgenthau, Jr., told the House Ways and Means Committee:
“We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong…somebody else can have my job. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises…I say after eight years of this administration we have just as much unemployment as when we started…And an enormous debt to boot!”
Any fool knows this stuff does not work. You don’t have to be a Wall St type (many recently bailed out for poor decision making) to understand this reality. If it’s fluff, and it is, do away with it.
We asked an average citizen – a Fresno, California cattleman - what he thought about the issue. “Well, sort of like taking water out of the deep end of the pool, and pouring it back in the shallow, ain’t it?” Exactly so.
Is there some sort of slush fund reserved for public emergencies? No. The money comes from 1) taxes, or 2) borrowing or 3) a complicit central bank (inflation). All three rob from the private sector, which is infinitely more productive than the public.
Public spending – at best a wash. Get rid of it.
Robert Craven
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