Ira Stoll at Future of Capitalism points out the irony. In a press release FDIC head Sheila Bair urged Americans to save more money. We've heard that before, and if there's anything that will focus Americans on that need, it's a recession.
But on the very same day, President Obama announced his health care plan which includes a tax on interest and dividends on household incomes exceeding $200,000 for singles and $250,000 for married couples filing jointly.
Americans save, the government takes.
It's not the American people who are spending like crazy, it's the government. Hopefully the seeds have been planted to produce a future crop of politicians who will accept the hard truth that the government needs to stop the spending madness.
Soory, George. Posts about President Obama just don't have the same zing as those about Joslyn James ;-)
Posted by: Jeff | February 24, 2010 at 11:39 AM
You're right, Jeff. President Obama just doesn't light up a web page any more. Maybe that's an early warning that he's a lame duck.
Posted by: Geo | February 24, 2010 at 01:12 PM