Presidential election, 2016

[Bob Butler 54]

(11-24-2016, 03:29 AM)Classic-Xer Wrote: Dude, we borrowed and spent since the beginning. We borrowed and spent to acquire the bulk of the land that we call home. Trickle down economics has been in place forever. The kings and queens used trickle down. The emperors and the communist regimes of Europe used trickle down. The Democratic party of today uses the big government version of trickle down.

Yes, and there have been economic collapses happening forever as a result.

The best example might be Louis XIV of France, the Sun King, a king of borrow and spend trickle down. Warned that his debts and other economic policies would ruin France, he had what seemed to him to be an entirely adequate response. "It will last my time. After me, the deluge." Well the deluge came in the form of the French Revolution and Napoleonic Wars.

The difference between Louis XIV and Bush 43 is that Louis knew what the consequences of his actions would be, while Bush at least pretended ignorance, presenting borrow and spend trickle down as an approach to a healthy economy. While economic theory has advanced considerably since the days of the kings, they knew full well what ruinous debt was, and they knew full well the consequences.