Reagan is Right, Keynes is Wrong

If each of us individually cannot borrow our way to prosperity, is it logical to believe that collectively we can do the same? Absolutely not. But that doesn't stop politicians from borrowing massive amounts of money from potentially hostile regimes to finance a virtual Ponzi scheme of promised entitlements.

Ronald Reagan said the following during his inauguration - "You and I as individuals, by borrowing, can live beyond our means but for only a limited period of time. Why then should we think that collectively, as a nation, we're not bound by that same limitation?"

He continued, "We must act today, in order to preserve tomorrow. And let there be no misunderstanding, we are going to begin to act, beginning today."

The counter to this logical, common sense reasoning is called Keynesian economics which instructs a government to borrow money in order to boost the economy. Both Democrats and progressive Republicans have followed these principles - but finally, we have research which counters the ridiculous tax and spend our way to prosperity ideals so many Democrats are in love with today.

This video goes into a discussion on why we should be looking at economics in a new way.

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