Even the Queen of England has voiced disquiet about the poisonous effects of too much government spending & unsustainable public-sector debt! Appearing in her full regalia before Parliament, she invoked fiscal responsibility with a focus on spending cuts.
She sees clearly that it is impossible for governments to “create” prosperity or boost economic performance by spending more & more, especially by borrowing that leads to higher debt.
Unfortunately, government officials are ignoring what the Queen has seen. In Greece, they are relying upon a bailout from the IMF & European Union partners while pushing up taxes & government spending in the midst of a deep recession. Consequently, the euro & bourses around the globe have been taking a pounding.
Meanwhile, American policy makers are intent on using the notion of current economic conditions to foist over yet another bogus “stimulus” plan. Once again, they rely upon “tooth fairy” economic arguments that $1 in government spending will lead to a net gain of $1.64 in higher GDP.
While the Queen of Hearts often shouted, “Off with their heads,” a real-life Queen reveals that politicians & economists that believe such nonsense are “out of their minds”!