Friday, September 25, 2009

Fiscal Update

The Mises Institute has a great article about economist Pual Krugman, and our nations fiscal positions, on their website. The article highlights some of the big fiscal mistakes made by the Bush administration, and how Krugman is basically playing politics with his ideas. Our leaders are perpetuating the crisis started within the last decade and making it worse, yet Krugman seems to change his tone to support the Obama administration.

Paul Krugman's Identity Crisis

The conclusion:
"America is essentially signing up for a subprime mortgage, and we are assuming that we can simply refinance before the rates reset."

Scary stuff. To get out of debt (or at least on the right path), our leaders are going to have to stop promising everything to everybody and actually act responsibly with OUR money.

Reading regularly, can only improve your understanding of our economy and how it is working today.

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