Don't buy the Left's claim, saving is good! - San Diego, California Talk Radio Station - 760 KFMB AM - 760kfmb

Don't buy the Left's claim, saving is good!

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The Left says, "There's the classic mantra: When the consumer is not spending and business is not spending, then government needs to get in and spend."

What? First of all, this mantra doesn't address WHY people and businesses are not spending. It's because the government is taxing too much, borrowing too much, printing too much and spending too much. Once you answer that question, it is absurd to conclude that the government should tax, borrow, print and spend more.

That being said, the entire premise of this argument is based on the idea that saving is bad and wasteful. The Left thinks we need to spend more, but they don't understand that "to save is to spend"

http://media.worldnow.com/kfmbam/podcast/the_mike_slater_show_4997.mp3

Here are two absolutely brilliant (and short) explanations about this point if you wish to learn more.

The first is from Frederic Bastiat in 1848 and starts on chapter 11, "Thrift and Luxury"

The second comes from Henry Hazlitt  from 1946 and stars on page 162, "The Assault on Saving."

The Left says that spending is good only because they want another reason to take your money. If they can convince you that that guy over there isn't spending his money "enough" or "correctly", then people will give the government the power to take it and spend it for him.

 

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