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Editor's note: David Frum writes a weekly column for CNN.com. A special assistant to President George W. Bush from 2001 to 2002, he is the author of six books
'm a Republican. Always have been. I believe in free markets, low taxes, reasonable regulation and limited government. But as I look back at the weeks of rancor leading up to Sunday night's last-minute budget deal, I see some things I don't believe in:
Forcing the United States to the verge of default.
Shrugging off the needs and concerns of millions of unemployed.
Protecting every single loophole, giveaway and boondoggle in the tax code as a matter of fundamental conservative principle.
Massive government budget cuts in the midst of the worst recession since World War II.
History has shown that bubbles burst, depressions happen and eventually the system recovers ON IT"S OWN.
But we seem to think we can do it differently..take on more debt, buy more with money we don't have and some type of magic is going to happen to make this fixed.
How about this compromise? Raise the debt level to whatever the GoDvernment wants and allow the people to decide whether they wish to be slaves to this debt (government's lowly human capital) or be free human beings. How human beings became liable for the "debts" of the fictional entity of "government" is horrific. If I did not cause a specific "cost" I should not be liable for the "debt" created to pay for it. Otherwise, I am just a slave and victim to the whims of others.
Location: In a Galaxy far, far away called Germany
4,300 posts, read 4,410,771 times
Reputation: 2394
The ebb and flow of economics will not allow for a depressionless/recessionless existence. Default by the government has happened twice already with our government (and plenty with other govs). It is not the end of the world, life goes on and so does the economy. CNN, Fox, MSNBC, the White House, and both the Democratic & Republican parties have scared everyone into a doomsday scenario and everyone got scared and chose the blue pill. We get what we deserve and this is it.
History has shown that bubbles burst, depressions happen and eventually the system recovers ON IT"S OWN.
But we seem to think we can do it differently..take on more debt, buy more with money we don't have and some type of magic is going to happen to make this fixed.
Well I do think that we can make the recovery much less painful (for main street). We can't pretend that a bubble wasn't a bubble and that the "money" made on it was real and that we could keep it. What we can do retroactively is turn a bubble into inflation and that is far faster to get over than a deflationary bubble pop is.
How about this compromise? Raise the debt level to whatever the GoDvernment wants and allow the people to decide whether they wish to be slaves to this debt (government's lowly human capital) or be free human beings. How human beings became liable for the "debts" of the fictional entity of "government" is horrific. If I did not cause a specific "cost" I should not be liable for the "debt" created to pay for it. Otherwise, I am just a slave and victim to the whims of others.
Well only 51% of Americans pay Federal Income Tax.
That half of America is carrying the burden for all the services to all the people plus taking on future debt with no choice.
Well only 51% of Americans pay Federal Income Tax.
That half of America is carrying the burden for all the services to all the people plus taking on future debt with no choice.
EVERYONE is a helpless slave to a fiat currency system and the perpetual and insidious "debt", "interest", and devaluation arbitrarily induced by those in power. But I know that you are well aware of that from the past.
Well only 51% of Americans pay Federal Income Tax.
That half of America is carrying the burden for all the services to all the people plus taking on future debt with no choice.
Don't forget the payroll tax. It covers the other 1/2
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