Sunday, February 1, 2009

Your neighbors have a plan to fix the economy.

Suppose a couple of your neighbors were talking about how to improve the economy. After serious discussion, they decided on a plan to borrow $15,000 to spend on things they wanted, using your credit card. Anyone out there think they’d like to go along with that plan? Sound crazy? Now suppose your neighbors are a congressman and an economist. Everything better now?

Economics is not that hard to understand. The basic principles are quite reasonable, but politicians pay economists to dream up “solutions” like the one above. Are you ready for that plan yet? After all, very reputable economists will tell you that if you just let politicians buy votes using your credit card, you'll be much better off. Reach for your wallet…

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