11 Jul 2011

Economic Good Sense

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Member of the European Parliament from Southeast England Daniel Hannan in May 2009 explained to that body why bailouts wouldn’t work.

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In the US where nearly half of households pay no income taxes, government spending really DOESN’T get “suctioned” out of their pockets — at least not directly. To expect the people who fall into this category to comprehend that the “suctioning” affects them indirectly (i.e. there is that much less available for private investment and spending) is probably more thought than they are capable of.
Remember, there are a lot of people like that woman in Detroit who think spending comes from “Obama’s stash”.


Hannan is hardcore. He’s always been impressive in each of the interviews I’ve seen. He also feels like one of the few allies we have remaining in Europe.


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