Government spending | Fool me twice, shame on me

March 28, 2013 

A March 24 letter to the editor by Mr. Euglad (“Federal debt an investment in our future”) attempted to justify the national debt by comparing it to a household earning “$100,000 who has a $200,000 mortgage.” A more appropriate comparison would be to a household earning $100,000 who has a $200,000 credit card debt, plans on adding another $200,000 to the credit card, and still needs to take out a $200,000 mortgage.

We were sold the original trillion-dollar “stimulus” as a “shovel-ready” investment in our infrastructure. There is a children’s adage, “fool me once, shame on you, fool me twice, shame on me.” If you believe more spending by the federal government is good for our economy, I can only urge you to review economic history. If you believe continued spending by the federal government is “an investment in the future” than “shame on you”.

The writer lives in Pawleys Island.

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