The phrase du jour lately has been the fiscal cliff we would all tumble over if sequestration is not averted, I am assuming by additional tax and spending. But if this article is correct that the government borrows 31 cents out of every buck it spends, seems we are calling the wrong thing a fiscal cliff. I can't even figure how or whether any borrowings gets paid back.
There will be an educational seminar on the history and theory of Austrian Economics presented by the local Ron Paul Meetup Group on January 8, 7 pm at the Moksha Life Center, 405 Sansome Street, San Francisco. This seminar might provide a good explanation of the fiscal mess.
Here is the article mentioning the 31 cents of every dollar spent. http://news.yahoo.com/fiscal-cliff-deal-leaves-lots-issues-dangling-232914021--politics.html
Marcy
Marcy,
According to what Gary Johnson was saying frequently during his campaign, it's actually 43 cents borrowed out of every dollar the federal government spends. But whatever the exact number, what's beyond question is the total insanity of it.
Also happening January 8th is the SF Debate / Inforum gathering sponsored at the Commonwealth Club, 595 Market Street, free for members, $5 otherwise. This happens every two weeks, with usually around 20 people attending. Two people make pro and con arguments on a particular topic, and then everyone gets to debate. This Tuesday's debate should be a fun one one, the resolution on the table being "This house supports Diane Feinstein's proposed gun control legislation". Lots of ammo to bring to the table on that topic, pun intended! I'm going to try to go there and then catch the tail end of the Austrian Economics presentation.
Love & Liberty,
((( starchild )))