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I hardly ever seem to hear anything by any of the candidates about the huge deficit that is being run by the US govt., let alone the mountain of debt including foreign debt that is accumulating.(Except Ron Paul and he isn't going anywhere.) There is the usual talk about cutting spending but nobody is suggesting that they will bring in a balanced budget, unless I'm missing something which is always possible.
Doesn't anybody think this is a problem?
Of course it's an problem. Economic Conservatives are furious with the Republican party. But the problem is most Americans are too busy or too stupid to pay attention to the problem of mounting debts and deficits. What they do pay attention to is the falling dollar, but Americans in general have weak economic backgrounds. Many are supporting the stimulus plan and interest rate cuts. Both of those will further weaken the dollar, yet I have not seen any mention of that in any major media outlet.
No one talks about cutting spending and raising taxes because it doesn't get them votes. The problem with Populist Democracies is that the people vote to elect politicians that will help them, not do what is best for the country. Hence we keep putting off the issues that matter to pander to the issues that people care about.
David Walker, the comptroller of the federal government has been running around the country with people from both the conservative Heritage foundation and liberal brooks institute trying to inform people of the coming fiscal crisis. Yet obviously his campaign isn't working.
Americans are dumb. There are still people who think that supply side economics is a good idea.
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