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Politics : American Presidential Politics and foreign affairs

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To: LLCF who wrote (62410)	2/19/2013 10:19:16 AM
From: Peter Dierks	Read Replies (1) of 71588

IMHO a well run family, a well run business and a well run government have certain things in common. We can most likely agree that the family which has an emergency fund to pay for those unseen emergencies is generally better off than the family that has to borrow every time something comes up. When a transmission goes out at about the same time a a major medical expenditure drawing from savings makes more sense than borrowing. Businesses that fail to trim the fat during slow times are far less successful than ones that spend relative to current revenues. Ones that continue to spend like the good times far after they are gone fail far more often than ones that close locations and make other cost saving adjustments. States that obey their Constitutional Amendments not to borrow are forced to use contraction cycles to find useless spending and reduce or eliminate it. I agree that the federal government should not automatically fire 30% of the workforce across the board when there is a contraction. Cuts should be far more targeted. For instance the Federal "Job" Centers should all be closed immediately: (http://www.siliconinvestor.com/readmsg.aspx?msgid=28505369). If the federal government built a rainy day fund then it would be able to weather downturns without making cuts. With the current rate of growth in federal spending that would be impossible to accumulate. If the US government is to survive it will have to make adjustments to expectations of growth of the federal government. This may require reverting to historical ideas of the limited role of government. You may wish to know what Obama's first Chairperson of the President's Council of Economic Advisors had to say about FDR's causing the depression becoming the Great Depression: Message 26745409. On China: It clearly would be folly to try to deny the Chinese the right to use the money we owe them to invest or spend as they wish. Obviously they are known to engage in industrial espionage on a scale never seen before, so there is some limit to what they can be allowed to invest in for this reason. They also use industrial espionage to engage in security espionage, so the government has a right to limit certain investments for these reasons. Outside of protecting our own vital interests in a very limited way, nobody has a right to restrict the free flow of funds.

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