I got into a conversation about the economy with some friends last night. One thing everyone agreed on was the economy is in a slump and doesn’t look like it is going to recover anytime soon.
Everyone had some pretty educated ideas about the cause and solutions to help the economy. However, there seems to always be one in every group that just doesn’t quite get it.
My liberal friend says (yes, I have liberal friends) the economical fall out is a direct result of the Bush Administrations Tax Cuts and they should be eliminated. He says we should also raise taxes on the rich and corporations, especially oil companies and give that money to the middle class who desperately needs it and deserves it. (No he is not Barack Obama)
My friend then went on to explain that when Obama is president he should just print more money so more would be available. He is definitely a product of government schools.
I really don’t have time right now to explain why this is one of the most economically illiterate ideas ever, but then I also assume readers of this blog share an intelligence level higher than most and may actually understand economics.
This is why we are headed towards a recession, because people in this country are financially and economically illiterate.
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