A glum AP story this morning reports the American economy sluggish again because we private drones aren't pissing away our money fast enough. (The invisible ink warns us to get our hienies and Mastercards to Walmart quickly.)
But government shares the blame.
The GDP revision showed that the government sector is dragging on growth. Government spending fell at an annual rate of 5.1 percent. Federal and state and local governments have cut spending to battle budget deficits.
I have a little trouble wetting my pants about that. The money (assuming for the sake of argument only that it actually existed in the first place) didn't disappear. After all the micro-calculations, it remains under control of the people who earned it in the first place, giving them a tad more freedom to make that Walmart trip to buy what they think they need. The earners, of course, have to give up tthe privilege of having it spent by Obama and Co. on what the politicians think they need.
In fact, the 5.2 per cent would have been borrowed from the Chinese and others who think Barry, Ben, and Tim can keep their juggling act going.
1 comment:
I'm heatin' up the plastic and spending it... at Brownell's and at Midway, and on ammo.
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