J.P.'s moment of common sense - Economics 101
Date: August 21st 2011
J.P.'s moment of common sense - Economics 101
[Fourth of my weekly oratorial expositions on Broad View, KBZZ 1270 AM Reno. Click on the microphone to listen.]
Thursday evening there was a debate here in Reno, a debate between the four candidates trying to win the congressional seat vacated by Dean Heller, who was promoted to senator. During the debate, Kate Marshall, the Democrat, stated there is a “surplus” of $2.2 trillion dollars sitting in the Social Security trust funds, and she wants a law which prevents Congress from spending that $2.2 trillion dollars.
... I’m pausing here for dramatic effect. Because Marshall’s comment is almost a punch line it’s so ignorant. Anybody who thinks there is money sitting in the Social Security trust funds has been living under a rock, or doesn’t know how to read, or doesn’t bother to read.
I wish Marshall was an exception, but she’s not. There’s an epidemic of people in positions of power who don’t have a firm grip on basic facts, and knowledge about economics is a particular problem...
(read the rest here: http://www.jpattitude.com/110820.php)
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