"Cutting taxes does not create less government. Cutting spending creates less government. Cutting taxes only creates deficits, and the money has to be repaid sooner or later. But like the housing bubble that accompanied the budget that funded two wars simultaneously, no one wanted to take away the punch bowl until it was too late."
I read these sentences in a response to a New York Times editorial about the current and continuing housing crisis. I hate math. I hate econimics. Frankly, I don't get it. I'm smart but not blessed with the ability to understand banks and accounting and taxes. This sentence struck me as something that made sense. I have lost money on a home sale, and I currently would love to sell my home for one with a little more space. Bottom line: I could never make enough money on the sale of this house to pay a realtor and still have money for the next place. I'm one of the lucky ones, though. I'm not stuck with a house that won't sell. My mortgage payment is manageable as long as my husband is employed. My neighborhood isn't filled with empty houses due to foreclosure.
Still, what the hell can we do? We have to start producing something useful again that's for sure. We can't continue to buy everything from China. We can't continue to think that Wal Mart is filled with bargains. We have to stop blaming immigrants for taking jobs. Frankly, I'm disappointed with Obama's performance so far and not just on matters of the economy. The economy, however, scares me the most.
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