Just about everyone who has ever paid a bill knows that the
size of the bill doesn't matter, as long as you have enough income to cover it. So is America's debit really a crisis, or is the problem
actually lack of income?
The US economy is consumer driven. When people don't spend
enough money to keep cash flowing into businesses, we have a recession.
However, consumer spending does not discriminate over the
sources of income. Private sector jobs put money into the hands of consumers
the same way government jobs do.
Since
President Reagan began the tax burden shift from the rich to everyone else,
America has seen 4 major recessions in less than 30 years. That's more than all
US economic downturns for the past 100 years.
