Thursday, July 28, 2011

Washington, DC is still debating how to resolve the debt ceiling crisis and everyone has a solution except, of course, the President. The House has passed Cut, Cap and Balance -- the best solution -- and will most likely pass the two-stage debt bill today. Nancy Peolsi's reaction: "We're trying to save life on this planet as we know it today." You really have to ask yourself, what planet is she on...The Washington Post Blog's Chris Cillizza, believes Boehner's plan will pass and hand the ball to the Senate where it will most likely be amended and handed back to the House. The White House, apparently becoming resigned that they will get a two-stage bill is equating the GOP House to the Grinch who stole Christmas. The WH may be unhappy, but Fred Barnes has very high praise for Boehner.

Missed posting this yesterday.

The WSJ has an excellent history lesson on how we got into this mess. If you have time for only one article, make it this one.

Thomas Sowell (who has a doctorate degree in economics) opines on Obama's 'balanced' approach.

Who would have thought the "flower children" of the sixties would come around to be today's conservatives?

With the debate on the debt ceiling still raging, we should remember what Milton Friedman said, "There are four ways you can spend money. You can spend your own money on yourself. When you do that, they you really watch out when you're doing, and you try to get the most for your money. Then you can spend your own money on somebody else. For example, I buy a birthday present for someone. Well, then I'm not so careful about the content of the present, but I'm very careful about the cost. Then I can spend somebody else's money on myself. And if I spend somebody else's money on myself, then I'm sure going to have a good lunch! Finally, I can spend somebody else's money on somebody else. And if I spend somebody else's money on somebody else, I'm not concerned about how much it is, and I'm not concerned about what I get. And that's government."

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