Cause of meltdown
While talking about deficit spending as a cause of the current financial meltdown, it would inform your viewers to acknowledge that it's cause was deficit spending to support neo conservative agendas: 1) tax cuts without reducing expenditures almost entirely attributable to the Reagan and Bush II administrations; 2) the belief that government is incompetent to address ANY problems and should be bankrupted to prevent "interference" with market forces.
President Bush I referred to this as "voodoo" economics and was vilified by conservative pundits. The debt service on these deficits will result in increased taxes long term which is then blamed on "entitlements" ( healthcare, Social Security, welfare. medicare, SSI) which are then difficult to fund. If we eliminated the neocon debt we could fund a very good national healthcare system and Social Security programs. The source/blame for this is important to assign because we will otherwise repeat the past, "win the cold war, win the war on terror", without the administration asking for the American people to sign on and pay the price for such crusades. THEY are paying for it now
Stuart Goering
Manchester Township
Leave a comment