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News Link • Economy - Economics USA

Monetary Chickens Coming Home To Roost

Do you think our Congress is listening? Europe is falling apart, capitalistic socialism is failing, their bailouts are getting worse and yet we have a Speaker of the House of the lame-duck session of our Congress to is unwilling to do what historically proved to be the best medicine for a failing economy: cut government spending and cut taxes. Before 1929 whenever the United States got into a panic, as recessions were called then, the government simply cut back on spending and reduced taxes to encourage business and growth. This is a historical fact that cannot be ignored. Franklin Delano Roosevelt ignored that fact, and had a protracted recession called the Great Depression that he never managed to get out of himself.

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