Friday, March 27, 2009

Quote of the Day

"Nothing is so permanent as a temporary government program." Milton Friedman

2 comments:

raveler said...

What I find amazing about the clip is that Hannon had the opportunity to admonish the prime minister in public discourse. That's what we needed here in the states. Let's see the great orator face a man of reason and logic. Let the curtain can come down on this Obama charade, and discredit this farcical presidency.

infideler said...

In the economic down turn of 1893 unemployment hit 18.4%. In the recession of 1921 unemployment again hit double digits. Both of these ended quickly when President Cleveland (1893) and Harding (1921) cut federal spending and lowered taxes. Ronald Reagan ended the recession of the late 70’s early 80’s, where unemployment was over 9% (higher than it is right now), by cutting corporate and capital gains taxes and deregulating the markets.

FDR’s measures failed miserably—increased government spending and raising taxes. Obama is repeating this same failed model. These models are punitive to the businessman, investor, and the tax payer. What the successful models have in conmen is that they save the tax payer money and give regulatory relive incentivizing the economy to start moving again.