John Ransom is right — this storm will hit and it won’t be pretty:
There’s a super storm raging over our economy that’s been seeded and fueled by the federal government over a period of the past several decades. And it’s literally costing the country trillions of dollars in GDP per year.
It’s not merely garden-variety government waste that’s the problem either. It’s monumental stupidity by the government, combined with venial cupidity by voters who think they can get others to pay for their free lunch.
This government-created storm has, more than any other factor, contributed to the fiscal crisis; a crisis that is creating more expansive government programs, robbing us of more GDP, thus ensuring the political class will take more actions that punish the most productive and dynamic elements of our society.
You know? The people who create economic growth?
In order to understand how this storm is being fed, you need only consult some official government figures.