The new website Bankrupting America features a video presentation of poll results that reveal that a strong majority of Americans — seven out of ten — feel that government spending is too high, and nearly as many say this spending affects them personally.
A link to the video’s page is Spending just got personal, the video.
Results of the poll tell us that only eight percent of likely voters say government spending is too low. The issue of government spending is very important to Republicans and Independents, but even 42 percent of Democrats say it is important, according to the survey.
Bankrupting America is a relatively new site that seems to contain much useful information about government and the economy. Information from the site says “Bankrupting America is an educational project that explores the policies hindering economic opportunity and growth in America. The project focuses on the causes of the country’s current economic downturn and the future implications of careless policy-making.”
“The project focuses on the causes of the country’s current economic downturn and the future implications of careless policy-making.”
No, it doesn’t.
The cause of the economic downturn is the ceiling of the debt pyramid having been reached and the subsequent extinguishment of excess claims on the underlying wealth pie.
The great cheap energy hedge (credit) has been exhausted and without ready access to credit by consumers, commerce in America (and the world) is no longer able to drive the profits necessary to afford extracting the oil at ever greater marginal depths (right now about 5 miles below the surface of the planet)
The website is like a doctor who tells his lung cancer patient to stop smoking so his disease goes away. Sorry, it doesn’t work like that. Cutting spending now will ensure the most rapid path to economic mayhem. Damned if you do, damned if you don’t.
Ramped up government spending is merely the attempt to pick up the slack of the tapped out private sector or “consumers” (isn’t it sad that we are consumers rather than citizens?).