Roger Nichols

Every so often you see the words " Balanced budget legislation "

But they can't make themselves look good , so it never seems
to sustain itself

okgb said:

Every so often you see the words " Balanced budget legislation "

But they can't make themselves look good , so it never seems
to sustain itself

Click to expand...

It is the nature of political discourse to be hyperbolic or exaggerated to cut through the noise and grab voter's attention.

Government budgets do not need to balance in the short term for two reasons. First like a consumer's budget if funds are used for a capital expense that will have future value (like a consumer's car and home, or a government's highway) we need to weight assets vs. liabilities, not just simple cash flow. The second reason, is in a constantly expanding economy (which is what the central bankers are paid to engineer with fractional reserve banking et al), there will be more tax revenue in the future to service any near term deficits, i.e. we grow our way out of debt.

So the known real truth, vs. the hyperbolic spoken truth, is that deficits are allowable within reason, so now the real issue becomes how much is OK. This has been studied and there are actual numbers for this, but this rarely gets debated publicly because it is considered over the head of mere voters. That is probably more than a little true, so we end up in a political tug of war between factions who spend too much, and more responsible factions who push back against these looters of our treasury.

Government deficit spending is somewhat like telling alcoholics it's OK to drink, as long as they stop after one drink.  ;D

Good luck to us all....

JR

Note: my defense of moderate deficit spending should not be in any way considered support for more Keynesian stimulus. Just like an individual can't spend themselves out of debt, a government only thinks they're helping when they smooth out the dips from normal business cycles. Now our borrower in chief want to build a high speed rail line.  :  I would prefer he address structural (not short term) debt and unemployment, which won't go away with more short term stimulus (IMO). 






   

Problem with the political animal is they have the build in excuse

" I want to effect change for you to improve things
therefore i have to go with the popular vote so i can stay
in office to effect the change "
Popular = not always right or needed

Just for fun...http://www.youtube.com/watch?v=6G9qsSpXk28

I'm trying to cheer-up a serious situation...
I don't think this is the same Roger Nichols, is it ?
Anyways, he has always been a solid source of audio reference during my whole hobby. I owe him....and will compensate.

Roger died on April 9th according to the website.  I learned of his passing from audiomidi.co


Reportedly his family is quite in debt still from medical bills and continue
to accept donations.

CC