Joe Biden said yesterday: “We Have to Go Spend Money to Keep From Going Bankrupt”

Posted on | July 17, 2009 | 3 Comments

He’s right and before you go making fun of Joe’s “illogical” statement, let’s not forget it’s Sarah Palin and other republicans who are saying we need to stop paying the government to increase revenue! Yeah, yeah…receiving less money means it’ll be easier to pay the bills! Spit.

(image created by KayInMaine of White Noise Insanity)

So which statement is right? Does it make sense for our government to continue to receive less tax revenue to fund it or does it make sense to spend more of the stimulus money on the streets to create jobs, which in turn, will create more tax revenue to our government? You decide. I’m going with Joe Biden’s way of thinking because the old business adage of ‘we have to spend money to make money’ is the only way to get our nation out of debt. Creating jobs, reducing the cost of healthcare/insurance, reducing spending (such as NASA!), and taxing the higher tier has always worked!

Been done for years….

Ronald Reagan spent, taxed, and never reduced spending. Same with George H.W. Bush when he was president…and he even tried starting a war in Iraq at the end too in the hopes to jump start the economy (we were in recession under him and Reagan) and to help himself get reelected. During these two presidencies, our nation did not fail. We were already trillions in debt thanks to the Reagan years. Then came Bill Clinton who raised taxes, spent, reduced spending in some areas, but the key to turning the economy around under him was in creating jobs which he did to the tune of 22 million. Our nation had a surplus after the Clinton years and then George Bush came along. George Bush didn’t tax the rich, he spent like a drunken sailor on two wars and for the uber wealthy, he didn’t reduce spending, he increased the size of government, he ignored the signs the banking/housing industry was collapsing, and after 8 years of doing this, our economy is failing. We now have President Obama in office who wants to do what Clinton, Reagan, and George H.W. Bush did which is tax those who can afford it, spend money wisely to create jobs, reduce spending over time, and regulate the banking industry where needed to close the loopholes that are damaging progress.

The next time you hear someone say, “The only way to increase the size of my bank account is to reduce my pay!”, you tell them they’re stupid.

There is good spending and bad spending. Good spending would be in creating jobs. Bad spending would be borrowing trillions from China for two wars and to help America’s wealthy not pay their fair share of the taxes and then telling the rest of America to screw off. The End.

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