Once the public-private ratio of GDP approaches 50%, you can expect big business to support government spending, as they are commonly the large beneficiaries. Now, just the federal portion, is a kick above 40%. Wall Street is no tea party. A year or so ago I was watching CNBC and the subject come up about government spending. One of the female host blurted out, ” business likes government spending” Indeed it does ! She was right. Those “conserative” Wall Streeters like the checks coming in and on time.
This week Goldman Sachs issued a report that said the House-approved cuts would hurt the economy in the short term. Of course, all those corporate boys live for is the short term. The Wall Street Journal rebutted them this morning with some recent stimulus facts and figures.
In this mornings Washington Post, Robert Samuelson told us who was running the country. i always thought there was someone responsible for better or worse. Now we know; the cat is out of the bag.
AARP is running the country according to Samuelson. He makes a good case. He says, ” AARP runs budgetary policy, not presidents or Congressional leaders.” AARP is tyrannical; my words. He further says, “it’s power derives from the fear it inspires in senators, representatives, presidents, and political candidates.” I, too, have observed that over the years.
Not all seniors are AARP members, and if members, it is doubtful they approve of the strong arm tactics. But, AARP leadership must learn it is a different world out there now, and many competitors have come on the scene. Senior-selfishness is not going to have the free reign it has enjoyed for decades.
Seniors should have been putting money back for retirement and health needs and not been such high-living consumers. Entitlements cannot do it all and AARP needs to wake up to that fact.
Some in Congress are beginning to resist the selfish designs of AARP. Here is Tennessee the AARP has not intimidated Sen. Bob Corker. He pulls no punches in his disdain for the overbearing practices of AARP.