I link to a news story in the previous post about President Obama’s multi-trillion dollar, deficit-overflowing budget. Especially during a time of great economic depression as we are living through now (except for those at Goldman Sachs, etc.), to deliberately submit a budget with deficit spending is, as Frank Sinatra and Jack Jones might say, Irresponsible! In fact, Congress should make the deliberate submission of a budget with deficit spending by a president an impeachable offense. When we have the kind of economic collapse that we have now, that was caused by government’s actions, the key to recovery is saving, NOT spending, and certainly not deficit spending! What are those people down there in Washington, nuts? Of course, if Washington eliminates the income tax and capital gains tax, then immediately everyone would benefit. Businesses would be hiring again, and creating new jobs and expanding and investing, and citizens would have more (of their own money to begin with) to spend, save or invest. But that just makes too much sense for the hacks, imbeciles, nudniks and nincompoops in Washington.
What the average folks should do now is save, especially when the economy is only going to get worse this year. Do you really need that new car? If the car you have is not causing you any trouble, you might put off getting a new one for another year or two. And do you really need that big screen TV? No, you probably don’t. It is best for now to assume that the economy will get worse, and plan ahead accordingly.
Here is some unsolicited advice for young people who will graduate from high school this year, and their parents. You might want to consider putting off college for a year or two, and get some kind of an income. There’s nothing wrong with that. And for those who plan to attend college now, you might want to consider some of the less expensive schools. Do employers now really care if your résumé includes “Harvard,” “Yale,” or a state college? Is that expensive college really worth the price? I don’t think so. In fact, I’m sure there are plenty of employers out there who may take a pass on a prospective employee whose résumé includes “Harvard,” given that 99% of the Harvard faculty are total Marxist Obommunists. (lol, MOST college faculties are that way!)
And on the issue of college room and board, a great way to save money is to go to a local college and commute from home. I know, I know, I’m a big advocate of independence, and believe that kids need to become independent especially by age 18. However, one can make a good case for not paying the extra $1,000s that it costs to live in a dorm, given that dorm life is not at all better now than when I was in college 25 years ago–in fact, it might be worse now, with all the partying and drinking and not enough studying. No wonder the college dropout rate is so high (besides another cause being the terrible preparation for college performed by the government-run schools ). There are many pros and cons to both living in a dorm and living at home during college. The biggest reason to consider living at home, even for just the first one or two years, is saving money.