Nouriel Roubini: Is American spirit stifled because of big government? Not at all,

[Independem]

Nouriel Roubini: Is American spirit stifled because of big government? Not at all,

15 percent of GDP. It used to be an average of 20. In Europe, they're around 40, 50 percent. So the problem is not with too much taxes. Is the American spirit stifled because we have a mental recession today? No.

We have the worst economic and financial crisis, recession and depression, we've had in the last few decades. And why do we have it? Because we tried twice in the ’80s and again in the last decade an experiment in voodoo economics. Every time they're in power, they pretend that they want to starve the beast, but increase -- instead recklessly reduce tax rates in a way that's unsustainable.

They increase massively discretionary spending and military spending. And then because economic and financial crisis, and then they leave a trillion dollar budget deficit to the next administration.

It's just a train wreck for somebody else to take care of it. It happened during the Bush-Reagan years of the 1980s. And It happened again with the Bush tax cuts of the last decade that led to the worst economic and financial crisis since the Great Depression.

Every time they talk, they blame everything on big government. But the true agenda is different.

Every time they pass reckless and unsustainable tax cuts, mostly for the rich, they privatize in good times, that gains them the profits. And after they cause a massive economic and financial crisis, they socialize all the losses and bail out Wall Street.

They privatize the gains. They socialize the losses. They don't believe in capitalism. They don't believe in small government. They don't believe in the American spirit. They believe in big government, socialist and welfare for the rich, the well connected and for Wall Street. That's what they do.

http://intelligencesquaredus.org/wp-content/uploads/Big-Gov-102610.pdf

What and how republicans with business Bull Shit you daily but this sums up the truth about what is really going on.

[xchrom]

1. Recommend

[OHdem10]

2. Stifled from the stingy fingered Republicans not consistently

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