Tax. Spend. Borrow. Repeat.

Kenneth Spitz
Our federal colossus currently collects $175 billion per month from its citizens. But, it spends nearly $300 billion over the same period. The Obama government is borrowing about $125 billion per month just to "make ends meet". You don't need a doctorate in economics from an Ivy League college to see this just won't work. However, this formula for fiscal Armageddon comprises the foundation of the modern Democratic Party. If the liberal ideology were boiled down to directions on a shampoo bottle, it would read: "Tax. Spend. Borrow. Repeat." The problem has reached this tipping point because the shampoo bottle is nearly empty. Casual observation proves that an empty bottle is much easier to overturn. Thus the justifiable concern expressed by a myriad of financial experts of all political views. Washington liberals proceed upon their course, not due to principle, but because their political fortunes -- electoral and financial -- depend upon sating the never-satisfied "needs" of their...(Read Full Post)

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