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June 9, 2010
We ran across this very funny and not entirely insane article written by Scott Adams in the Wall Street Journal. It is worth a few minutes to read. Click here.
On a more serious note, Arthur Laffer wrote an op-ed piece in the WSJ as well. His comments about tax policy for 2011 and beyond and its effects on the general economy are not to be ignored. It is getting quite clear that politicians are between a rock and hard place when it comes to the choices that they are facing in the months ahead.
On one hand, the financial markets are beginning to demand (as seen in Europe and domestically at the State-level) some semblance of fiscal restraint and discipline. This political reality points to trying to lower deficits through some combination of higher taxes and lower spending.
On the other hand, in our opinion, the economy is not yet healthy enough with people still straining under mountains of debt for our Keynesian-oriented (obsessed?) politicians to decide to abandon their government-induced stimulus spending and easy money monetary policies.
The result is what Laffer is concerned about as he looks forward into 2011 and 2012. We’d agree. The November mid-term elections will be worth watching. Click here to read this interesting article.
