Mama Bin Cranky

Screaming on the Inside

Summers Says Governments Should Borrow More Money

Posted by madjillmom on June 9, 2012

Democratic Economist, Former Treasury Secretary, Obama’s Economic Council Head, and Harvard President has come out to tell us that governments should borrow more money to keep the worldwide recession at bay. Ok.

I am pretty certain that Lawrence Summers has a pretty healthy retirement account.  Same with Warren Buffett. Perhaps they should put their money where there mouth is and lend money to bankrupt countries.  Banks and private individuals should not make it a habit to lend to countries that can’t pay back those loans.  Remember the sub-prime housing debacle?   So go ahead, Larry.  Buy Greek Bonds, Spanish Bonds, Chicago Bonds, Detroit Bonds, San Francisco Bonds, NYC Bonds.  Then stand by and watch your “investment” preserve the status quo.  Put your money where your mouth is.  Governments borrowing money limps the economy along to eventual failure.

Quit Whining and Starve the Beast!

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