Monday, April 11, 2011

Still Kicking the Can Down the Road

What is going on in Washington is a joke. A dangerous, bad joke.

Our country needs to "restructure our finances," much like a business going through a bankruptcy or foreclosure process. Unfortunately, our leaders are unwilling to chop the fat, and our citizens only want their neighbors to go on a diet and shun any needed changes that would impact them personally.

"There is only one difference between a bad economist and a good one: The bad economist confines himself to the visible effect; the good economist takes into account both the effect that can be seen and those effects that must be foreseen... the bad economist pursues a small present good that will be followed by a great evil to come, while the good economist pursues a great good to come, at the risk of a small present evil."

Frederic Bastiat

Bernanke will be judged later as a "bad economist."