Tuesday evening the House of Representatives voted on whether to raise the so-called "debt ceiling". It was pure charade. No, it's worse. It's kabuki theater of the absurd. First off, the House Republican leadership knows it's only for show. The reality is that Congress will vote to raise the limit later this summer. They have … Continue reading Debt Ceiling: Kabuki Theater of the Absurd
Hugh Pickens at Slashdot reports how a Wisconsin Congressman has been complaining that it's tough to make ends meet on his meager $175,000 congressional salary (complete with extensive benefits including healthcare, defined benefit pension, paid staff, etc). But once a video got out of him complaining about his low pay (which is more than 3 … Continue reading Pity the Rich and Powerful – Won’t You Help?
In a previous post I noted that members of Congress usually don't understand economics at a level to even pass a Principles Econ 201 or 202 course. More proof from Pat Garafalo of Think Progress. Apparently Rep. Shadegg of Arizona, a Republican representative for at least 5 years doesn't understand that consumer spending is essential … Continue reading Congressional – FAIL economics