Rick Lowe
Following are a couple interesting articles that show the sleight of hand of a government, that would merit a new law if the private sector should attempt to do the same.
Double standards by governments drive me around the bend.
The first article is from 2007:
"Every year, tens or even hundreds of billions of dollars are quietly added to the national debt -- on top of the deficits that we hear about. What's going on here?"
By Scott Burns
MSN Money
"When it comes to financial magic, the government of the United States takes the prize. Sleights of hand and clever distractions by purveyors of line-of-credit mortgages, living-benefit variable annuities and equity-indexed life insurance are clumsy parlor tricks compared with the Big Magic of American politicians. [More...]
The second article is from 2009
"White House estimates $9 trillion in deficits over decade, citing cost of economic rescue as a major reason. Congress' budget office also shows increase in deficit outlook."
By Jeanne Sahadi, CNNMoney.com senior writer
Last Updated: August 25, 2009: 5:28 PM ET
"NEW YORK (CNNMoney.com) -- New estimates of the federal deficit leave many questions unanswered but underscore one cold fact of life in Washington right now: Boosting the economy without making an already bad deficit worse is really hard to do.
"The Obama administration said Tuesday that it now expects the 10-year budget deficit to reach $9 trillion, or about $2 trillion more than it estimated earlier in the year. [More...]
You think this is where our government gets ideas?
Like businesses have conventions on how to sell products better, governments must meet on how to convince citizens that they're allowed to get away with these things.
