Maybe people have been telling us we are broke so long we believe it. First of all, I know little, really little of just what is true. There might be one interesting statistic though. We spend something like 28% of GDP while the average spending of western nations is said to be 45% of GDP. In other words, other countries spend much more.
Anyone involved in Government, especially as a contractor can testify to waste. We've all heard the stories of the 10000 dollar cotter pin. While it's not true, it still makes headlines. What really happens are cost over runs. Looking at where to place the spending things like cotter pins or toilet seats take the blame. I once had a duct work job that when duct work wasn't required the money was put in concrete. Far be it to cut the job costs.
All this aside, are we really broke and how broke?
Every Gov employee really recycles tax dollars. A layoff or cutback effects all of us by reducing dollars to communities. Maybe if taxes were taken back to pre-Bush levels we might have enough income to not feel as broke. We still have a huge GDP.
I listened to Mr. Speaker, Bonner, last night blame the Senate when he knows all appropriations constitutionally have to originate in the House and a dead bill can't be reintroduced. The guy is just insincere.
So I guess I should take a course in world economics so I'll know when our politicians lie to me again. Isn't it all just a faith-based economy anyway? Paper money isn't like real money is it?
