Oct 21 2008
Barney Frank: Ignore Deficit Spending…
Barney Frank is at it again. In a recent interview he proclaimed on CNBC that; “We should increase spending and deficit fear should take a second seat at this time.” Oh he went on…
“We can recoup the money spent by taxing the very rich,” Frank was on a roll. Although Frank did say any tax increase should wait.
This is an age old argument, but facts or facts; taking money out of the private sector to fund government only worsens the economic standing of that nation. Around the world such places as
Ireland have learned this and investment money is flooding in. Yet, here in the homeland of capitalism we continue to push away from the one proven system towards one that has done nothing but stymie a nation’s growth.
One more quote from Frank; he proclaimed the fundamentals of the economics are better than the psychology of the nation. Hum, I wonder if Frank has been designated to undo the fear mongering just in case Obama wins this election.
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