In response to:

Elizabeth Warren: We Need Much Higher Government Spending to Keep Up with China

fworley681 Wrote: Aug 01, 2012 5:29 PM
I agree we need to invest in infrastructure, especially those pieces that promote business. But we cannot address ANY of our other issues until we figure out how to balance our budget and have a long term plan to lower the national debt. If we really want to compete with China we have to do the one thing China learned from US: return to the fundamentals of capitalism, and have less regulations, more private ownership and invest in business.

I'm flabbergasted:

Here we have a woman who looks at our $16 Trillion national debt and thinks, we simply must spend far more. After all, China (coincidentally our top foreign creditor) spends roughly 9 percent of their GDP on infrastructure, whereas we spend "just" 2.4 percent on similar projects.  We can "do better," she says.  The New York Sun's Ira Stoll spoils the statist party by pointing to a minor arithmetic-related complication:

The first problem is mathematical. U.S. gross domestic...