Tuesday, March 24, 2009
I'm Watching Frontline on PBS Right Now....
The topic is the debt that Obama has inherited. It is focused on the Bush II administration. While I do believe that the fiscal irresponsibility was monumental, they are missing the point:
- Although the deficits were tamed under Clinton, the borrowing was simply shifted to Fannie, Freddie and other GSEs
-THE DEBT CAN NEVER BE PAID OFF UNDER THE PRESENT SYSTEM. It doesn't matter who is in Congress or who is in the White House: money equals debt in our system
I have touched on these points in previous posts and I am in the process of preparing an in depth exploration of the topic.
Posted by MK at 9:23 PM