PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: DuckTapeSunroof who wrote (755911)	12/10/2006 6:19:20 PM
From: Rarebird	Read Replies (1) of 769670

>>I was griping about government incompetence and waste, fraud, and abuse.<< The economic consequences of having a welfare state are that millions of individuals stop their private monetary savings. Why save when the state will take care of you? The secondary economic effect is that when people stop saving, they spend the money no longer saved on increased consumption. It is no surprise that it is the high individual savings nations which are expanding their stocks of capital plant and equipment and are therefore economically advancing while the welfare states stand with stagnant or declining stocks of capital plant and equipment and are therefore contracting.

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