Government spending is over 40% of the economy
Posted by admin in Finance Monday, 5 September 2011 09:57 8 Comments
Watch the full 42-minute video at www.goldmoney.com James G. Rickards (www.tangentcapital.com) and James Turk, Director of the GoldMoney Foundation, talk how US government spending at all levels is over 40% of GDP, and how this is incompatible with growth. Rickards outlines what real cuts would look like and jokes that it’s not a conversation that would be taken seriously in Washington. This interview was recorded on August 4 2011 in London.
imagine government cut speding. world econmy will collapse!
Don’t bother with these little changes, just abolish the State.
He didn’t say he was going to fire all the teachers. He said fire the bureaucrats over the teachers. I grew up when we didn’t have a Department of Education. The states took care of it. We graduated more engineers and scientists back then from colleges,..not so today.
Pretty good interview James – Very enjoyable. Thanks v much.
You are going to fire all the teachers? NO matter if they are great and the kids learn. That is the way to destroy america. Tell people it doesn’t matter how well they do their job, they are just a number in the education machine and fire them all. What crap. America is dead.
frankly i thought it was higher… does this include military spending???
Wrong! 40% is unsustainable. Keep it up and you get deeper in debt every year. With a larger annual payment to service til it collapses.
I DO agree about taking what works and dumping the rest. Localizing the programs also gives Americans the chance to make bad employees or failing programs accountable by firing their arses.
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