Something More Dangerous Than Debt Is Crushing America
The deadly deficit in economic education
BY ROBERT MORLEY
August 23, 2011
Over the weekend I heard a radio program discussing what should be done to fix the economy. It proved that America cannot be fixed before it collapses.
The interviewer asked random individuals what they thought the government should do to fix the economy. Every single person was of the opinion that the government needed to stimulate the economy with more spending. More frustratingly, many people said that consumers in general needed to be more patriotic and spend a greater portion of their paycheck to help the economy recover.
Strong delusion intoxicates America. I have never heard so many people sound so dogmatically self-righteous in their opinion that more spending—government and private—would fix things.
The argument was that if everyone just started spending more money, then more jobs would be created and America’s economic problems would be solved.
Sounds deceptively logical.