During President Obama’s press conference on Friday, he insisted that the private sector economy is strong. As a rebuttal to his own uninformed and incorrect declaration, he claimed that the public sector economy needed more stimulus, that is, more help from the taxpayer directly and more loans from China indirectly.
Are we to continue this spiral into bankruptcy merely to prop up an economy on a short-term basis? At some point, the piper must pay for the music. Haven’t we determined already the long-term impact of increasing the size of government, specifically, the ballooning costs of retirement and health benefits?