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« Scary Sentence of the Day | Main | Razib and Greg »

February 28, 2009

Fact for the Day

Michael Blowhard writes:

Dear Blowhards --

In 1999, the U.S. government's total outlays were smaller than this year's deficit is expected to be.


Bonus link: "The President does not understand that consumption is made possible by production and that credit is made possible by savings," writes Peter Schiff. George Reisman argues that stimulus packages always reduce real available capital.



posted by Michael at February 28, 2009


These are two voices of sanity, though unfortunately crying out in the wilderness.

Posted by: Lester Hunt on February 28, 2009 5:05 PM

It's more like Peter Schiff is crying out in a city park, trying to get those that work downtown to listen to him. Without YouTube, blogs, and other viral media, it would have been as though Schiff was crying out in the Canadian Arctic. At least today, and hopefully in the future, sane voices like Schiff's and Reisman's can be heard.

There is still a long ways to go.

Posted by: Cody on March 1, 2009 2:57 AM

Have you guys seen this article?

"The Flaw in the System: The Bankers Don't Care About the Banks"

IMO, this is the engine that drove us into this mess. It's hiding in plain sight, but sadly seems too abstract to get much attention..

Posted by: seen_the_enemy on March 3, 2009 2:02 PM

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