The Money Grab

Last week's Newsweek had a great article by Francis Fukuyama a professor of international economy at Johns Hopkins University, titled "The Fall of America, Inc." He discussed the damage to the American "brand" that has been done by this most recent stock crisis.

The part that I was most intrigued by came as he discussed the transition in our economy from the Reagan to the Clinton years. Fukuyama highlights a fact that has totally driven me crazy in the last eight years with Dubya in office, but apparently it has its roots back in the Reagan era—today's so called conservatives no longer seem to believe in only spending what they bring in. Apparently this is something that went the way of the dodo during Reagan's tenure when he promoted the idea that any tax cut would stimulate the economy so much that it didn't matter what the government spent, they would be taking in so much.

Psych! What happened is we started the 1990s with a huge deficit due to those tax cuts. Clinton took office, raised taxes and produced a surplus. Cut to Dubya, taxes get cut and we end up with a deficit so huge they have to take down the deficit clock in NYC due to LACK OF NUMBER SPACE!!!! 

So although Cheney apparently told Dubya early on that "deficits don't matter" that's just one more thing that Cheney has gotten horribly, horribly wrong. Why should I even be surprised. And of course here comes McCain yelling that Obama is going to raise taxes (the horror!) and that is going to kill our economy. So what does he want to do? Lower taxes  and freeze spending. Does anyone else see a huge problem here?

Rainy Days and Fridays

So I am not feeling particularly loquacious today, but I want to insure the faithful feel loved.

No I did not watch the republican debate last night. There were actually new episodes of My Name is Earl and 30 Rock. (Can I BE Tina Fey in my next life?) So I opted for humor that uplifted me and not just the opportunity to laugh at the mentally challenged. Sue me.

And it is a good thing, today's news shares with us that consumer confidence has hit a record low. Wohoo! Something tells me that Fred Thompson not acting like he is in a coma would not help me digest that news any better.

It is also raining, which I can not complain about due to the fact that my area of the state ended 2007 about 11 inches below normal rain fall levels.

BTW, Reagan's name was only invoked 34 times last night, but that should have been plenty of times to get you good and liquored up if you were playing my GOP debate drinking game.

375 days left . . . the infamous Florence, SC quote from January 11, 2000—

"Rarely is the question asked: 'Is our children learning?'"