Every generation needs a new revolution.

- Thomas Jefferson

Memo: It's Mental

Apparently Ben Bernanke did not get Phil Gramm's memo about the troubles with the economy being a "mental recession":

Federal Reserve Chairman Ben Bernanke told Congress Tuesday the fragile economy is facing "numerous difficulties" including persistent strains in financial markets, rising joblessness and housing problems -- despite the Fed's aggressive interest rate reductions and other fortifying steps. [Read]

The economy continues to deteriorate but government employees, including politicians, do not have to worry. Your taxes, including property taxes and sales taxes, are due whether or not you made money or have have had a pay cut. If the government needs more money they raise your taxes, whether or not you can afford to pay and without regard to the fact that you are trying to conserve your fiscal resources to make ends meet.

It could be said that the government is you enemy, but you are the government. Perhaps the cliche: You are your own worst enemy.

posted at 11:44:54 on 07/15/08 by clearpolitics - Category: Economics - [Permalink]

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