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Posts Tagged ‘2010-11 budet;’

January 25: Chutes & ladders

25 January 2010 | 326 Comments » | pablo

Behold the wailing about the Guv’s ‘10-’11 budget that calls for a less than 1% increase.  Every special interest is revving up its whine.  Brace your ears for the caterwauling!

Get over it, kids.  Everyone spent too much in the Big Run-Up that preceded the Great Recession.  The bubbleized U.S. economy got overheated.  Flush and greedy, we spent our home equity money and pseudo stock profits on cruises, condo’s, and more stocks, bonds, and gold.  Federal and state governments and authorities dramatically overspent the seemingly infinite tsunamis of taxes pouring in from banks and brokerages. Continue Reading