Knives Are Drawn for Proposed Budget Cuts - WSJ.com

Knives Are Drawn for Proposed Budget Cuts - WSJ.com

A serious question would appear to loom - i.e. is the Federal Government's fiscal policy going to produce a Michigan-like economy nationwide?

If so, the government is going down a very slippery slope. Greece, Argentina are all examples of socialist states that rely on government to provide jobs and benefits to the detriment of the private economy.

Clearly, the government of the US is allocating more resources to social benefit that people neither earn nor pay for nor restrain their acceptance of. As such, the burdens on the shrinking private sector become increasingly great.

We've seen what happens in Michigan and even California when government takes too much from the private economy. Is an economy like the old story of the straw and the camel? Probably not.

But, as every financial planner tells you - you should let 'compound interest' be your friend.
And, as widely accepted, if you don't have a job when young, it will impact you throughout much of your later working life.

So, would it be reasonable to try and contain even entitlements and to try and forge a business growth and rebuilding strategy - or, as evident from the current spate of programs, should the government continue the same-ole consumption and social redistribution programs which are sapping the strength of the private sector?

After all, if the government takes 30% out of the economy rather than 20% (this is Federal only), then it only follows that the private economy will have less to building businesses with and to create jobs with!