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Politics : President Barack Obama
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To: ChinuSFO who wrote (113965)5/20/2012 3:10:44 PM
From: RetiredNow  Read Replies (2) of 149317
 
Growth is needed, but we haven't increased growth by more than a dollar for every dollar borrowed since 1980. So the bang for the buck is not there. The key problem in your line of thinking is that you believe the government is the entity that creates wealth, but they do not.

Real growth is not measured by spending. Real growth in the economy and in wealth is measured by personal income after taking into account inflation. Growth in personal income comes from non-governmental employment growth. To get that you need savings and investment All government stimulus and deficit spending increases government spending, which takes money away from private savings and investment. Bernanke's zero interest rate policies is a direct reduction of savings. These things destroy not only private employment growth, but also personal savings and income, which are the drivers of sustainable economic growth and wealth.

You and ted are misdiagnosing the root causes and as a result your prescriptions for a cure are worse than the disease.
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