> Money is one of the pillars of civilization. It lubricates and simplifies commerce. It incentivizes useful human behavior, from day labor to innovation, from intellectual development to respect for law.
> Everyone needs the ability and the opportunity to earn money or the support of someone who has it. For most of us, the biggest bulk expenses are for shelter and transportation. Taxes and insurance may add up even higher. Prudent people control spending and save money regularly throughout most adult years.
> Responsible governments attempt to adjust economic activity to a level that enables most citizens to satisfy their needs for money--by use of tax policies, spending programs, regulations and central-bank actions. With the advent of Reaganomics all of these tools except central-bank actions have trended toward abdication of responsibility for America's long-term economic health, with the result that central-bank actions were over used and finally counter productive. Citizens were encouraged to be imprudent until their ability to do so was exhausted.
> It's time to use all the tools of economic adjustment to restore sustainability and integrity to the US economy.
Monday, February 23, 2009
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