In response to:

Banking On The Path To Fiscal Ruin

Jugjock Wrote: Jan 09, 2013 12:23 PM
I worked in the EX-IM Bank building for the better part of 16 years starting in the early 1980's.. My impression of the EX-IM was that it was a group of underworked (the place always seemed very quiet and half-empty), over-paid (their FTEE civil service pay grade staffing chart is top-heavy), maneuvering and positioning themselves for their next overseas all-expense paid, travel. If working class, business class, and professional Americans could spend several days unobserved in the federal bureaucracy they would be furious, and no doubt there'd be a wholesale revolution against the federal government. Washington is routinely referred to as "Disneyland on the Potomac" for good reason.
Jugjock Wrote: Jan 09, 2013 12:27 PM
Read Halitt's, "Economics in One Lesson" (Chapter 12) for an explanation of why loaning people or governments money to buy your exports is nothing but bald-faced mercantilism, croney capitalism, and little better than theft. Guess who gets to cover the losses from the un- or under paid loans, and the bureaucratic overhead of administering the program? Look in your mirror for the answer.
Jugjock Wrote: Jan 09, 2013 12:35 PM
Sure wish there was an edit button - the above para should read HAZLITT'S, not halitt's.

And, thank you Mr. Blackwell.
Roy323 Wrote: Jan 10, 2013 5:50 PM
Good responses- I have to admit I was unaware of the "Banks' " existence!

A trend has taken shape in Washington, and it has put our country on a devastating path towards potential fiscal ruin. The trend is characterized by an unsustainable penchant for spending money we don’t have. It became crystal clear in last year’s debt ceiling negotiations and was further highlighted by the recent debate surrounding the fiscal cliff; our country is broke, yet our government continues to spend more, risk more and accumulate more debt. Entitlements are often blamed for the vast majority of our spending issues, but our tendency to overspend is not restricted to just these. Parallels exist across the...