Why am I angry? Because President Obama, after winning an improbable but historic election, turns out to be unimpressed with basic economic facts. He assumes the budget system we have ought to dictate our spending allowance to do for the material foundation of the American dream what he has done for for its soul. The President has turned racism out on its ear — never again will a child of an ethnic minority be born never to be elected president. God in Heaven is pleased. Martin Luther King looks down from Mount Rushmore — alive in the White House if invisible on the mountain. But the simple truth about business and personal income as a measure of America's potential economic output has not penetrated the President's mind. Only an ambitious investment budget, based on liquidity to be furnished by our central bank, coupled with full training and full employment of everyone anxious to work, can establish the spending and lending the federal government owes the sates and their subdivisions, and the industries and individual Americans, in order to reach our output potential. Taxes assessed against sales, wages, profits and income in general, are much to small to drive the American economy ahead — and into the promised land.
Because President Obama, after winning an improbable but historic election, turns out to be unimpressed with basic economic facts.
He assumes the budget system we have ought to dictate our spending allowance to do for the material foundation of the American dream what he has done for for its soul.
The President has turned racism out on its ear — never again will a child of an ethnic minority be born never to be elected president. God in Heaven is pleased. Martin Luther King looks down from Mount Rushmore — alive in the White House if invisible on the mountain.
But the simple truth about business and personal income as a measure of America's potential economic output has not penetrated the President's mind. Only an ambitious investment budget, based on liquidity to be furnished by our central bank, coupled with full training and full employment of everyone anxious to work, can establish the spending and lending the federal government owes the sates and their subdivisions, and the industries and individual Americans, in order to reach our output potential.
Taxes assessed against sales, wages, profits and income in general, are much to small to drive the American economy ahead — and into the promised land.
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