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|User Info||Euro Area: We're Fooked And We Know It; entered at 2012-04-16 13:13:09|
Registered: 2010-09-06 USA
When the financial press (or governments) use that phrase it conjures up the picture in my mind of a guy trying to hold the levers in on dozen grenades in his hands with the pins pulled and saying GIVE ME ANOTHER ONE, I NEED MORE FINANCIAL FIREPOWER.
Excellent Visual! I'm seeing Ben holding those nades and they are all M34s.
As for raising taxes, there is no way that raising taxes would ever generate enough cash flow to pay for our current rate of spending. The hit to the economy of the higher tax rates would prevent that from ever happening. I think it was Karl who posted some information that the government has never been able to get more than about 22% of the economy via taxes, I don't see how it could be any different now than it has been in the past.
One act that will buy a few more years is nationalizing all that sweet 401K money.
Last modified: 2012-04-16 13:16:34 by raftermanfmj