tag:blogger.com,1999:blog-3046628493283608233.post8002162330866103315..comments2023-10-29T05:29:58.599-04:00Comments on Right-Side-of-Lowell: Debt Crisis ContinuesUnknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3046628493283608233.post-48680345799251655772013-02-04T17:06:04.002-05:002013-02-04T17:06:04.002-05:00Krugman is a certifiable idiot and walking proof o...Krugman is a certifiable idiot and walking proof of the abject failure of our higher education system in America. We won't even go there regarding the comedy that has become the Nobel Prize system. <br /><br />All the fancy talk and multisyllable words does not "make it all better." It is simple logic.....pathetically simple. "Deficit" means you don't have enough money to buy what you want or need. Debt means that you went out and borrowed money you didn't have on your own. Now, you not only have spent money you don't have which in practical terms only worsens your deficit issue because debt is subtracted from assets right out of the blocks. Spinning in one's ruby red slippers reciting "this isn't Kansas any more" doesn't mean you are no longer in Kansas. <br /><br />The Federal, state, and local governments need to stop giving goods and services it can't afford to people who can't provide it for themselves. Its that simple. Stop spending money on the credit card. <br /><br />BTW.....one of the greatest obscenities found in government today is the assumption that the people provide revenue. In classic terms, revenue is derived from goods or services bought from a vendor. It isn't revenue that they government extracts...it is tribute forceably taken. Nealnoreply@blogger.com