O'Reilly: The "Borrowed" Buck Stops Here

Posted by Jim Spence on Saturday, November 27, 2010
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Bill O'Reilly
From Townhall.com - Be thankful this holiday weekend that you don't live in Ireland or Greece. Those countries are in very bad economic shape and have to take bailout money from other countries just to survive. There are riots in the streets, and fear and loathing are on display. The luck of the Irish has run out, and Zorba the Greek is broke. What happened? The primary problem is that the Western European model of providing cradle-to-grave entitlements for the folks is no longer sustainable in a world where recession has replaced expansion. Many countries, including the USA, have so much debt that they simply can't pay it off. America can still borrow what it needs, but not even Zeus would invest in Greek bonds. With all the economic chaos on display, you would think the Democratic Party and liberal America would reconsider their attachment to massive government spending. You would think. But you'd be wrong. Read full column here:
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1 comments:

Anonymous said...

Perhaps we haven't borrowed or spent enough. The use of deficit spending hasn't been utilized to it's full potential yet. Financial solvency, pragmatic spending practices and fiscal responsibility are WAY overrated. Personally, I think the federal reserve should do some more quantitative easing, print three or four more TRILLION and send every taxpayer a million or two. However, this time they should send it directly to us instead of paying bureaucratic salaries to disburse the funds. If they would do this instead, ALL OF US could quit our jobs, there would be plenty of jobs for those who want a job and everyone would start spending which would in turn TRULY stimulate the American economy.

November 27, 2010 at 8:13 AM

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