As I recall, a few weeks ago, those noted economists, Sarah Palin and Michele Bachmann told us that Barack Obama was creating a crisis and there was nothing to worry about, just don’t raise the debt ceiling. The aftermath of the foolishness and stupidity of Tea Party stalwarts in Congress have resulted in over $3 Trillion being wiped out in stocks. Yes, the Tea Party knows a great deal about economics, they are Republicans.
After all, Republican George Bush inherited a Clinton budget that showed a surplus of $350 Billion and a National Debt of $5 Trillion. When George departed the scene, our National Debt was $11 Trillion an rising while the budget showed a Trillion dollar deficit. The USA now receives economic advice from India and China on how to behave like a modern industrial society.
Oh, and thank God, Governor Perry is helping to solve our economic crisis with prayers to God.
Where have all the Republican economic theorists gone?