Here's a fast-paced primer on why our economic predicament is so dire. It's good, but I advise that you use the pause button to allow you to digest the information:
Whether it's Greece or California, it seems clear that excessive spending and borrowing leads only to disaster. I can't think of any example from history when it hasn't. So why has the Obama administration, and to a lesser extent the Bush administration, nevertheless spent us to the brink of catastrophic collapse? Are these people economic or historical illiterates? Are they stupid? Are they deliberately trying to destroy our economy? Are there any other possible explanations?
RLC
