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Don't Look Back: But Reality is Gaining on Us:

By       Message Mike Folkerth     Permalink
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Good Morning Middle America, your King of Simple News is on the air.

U.S. NEWS: I just read an associated press article that was funnier (in a sick sort of way) than Comedy Central. It stated the findings of a recent AP Ipsos poll that was directed at determining how to get the U.S. out of recession.

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Here are the top four ways that our citizens believe could get us out of recession. Oh, the survey said 61% of those polled believe that we are in recession. That means that 39% of Americans are either in a coma, are running for a government office, or thought "recession" had something to do with global warming.

Back to our list of ways to end the recession:

1. Pull out of Iraq immediately.

2. Increase government spending for domestic programs.

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3. Lower taxes.

4. Give rebates to poor people in hopes they'll spend us out of recession.

I'm not making any of this up. It appears that ignorance is terminal for the American people. I'm not sure how the end comes from terminal ignorance disease, but I bet it ain't pretty.

Keep in mind that I'm talking about right and wrong, I'm speaking to the economic impacts here, as we discuss the general thinking of those polled. Let's go down the list and consider each solution.

Pulling out of Iraq; is a great idea. Not going in the first place would have been better, but that's water under the bridge. What would pulling out of Iraq do for the economy at this point? Thousands of Americans work at jobs that provide everything from bombs to buns to support the war effort. Thousands of others are deployed as reservists and civilian workers. Billions of dollars are being pumped into economy as a direct result of the war and still, the economy is failing.

So then, ending the war would displace thousands of people from their jobs, thousands more would return home looking for work, the current money being spent would no longer be flowing and we are already in recession; and this is the #1 good idea; what must be the bad idea?

The number two best idea was increasing government spending on domestic programs; which would indicate that those polled believe the government has some money to pay for those programs. This solution would also indicate that those polled don't get out much. Debt is already the problem don't ya know? The war is a domestic spending program. All wars are and always have been.

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We constantly chastise deficit spending and ever greater tax collection, and then trot out greater spending as a solution?

Lower taxes; was the number three solution, rating just behind more government spending and more unemployment due to ending the war effort. Let's see, we incur more debt, but collect fewer taxes to pay back the debt, and that will end the recession? I agree that it would end the recession, but trading recession for depression seems counter to the effort.

Giving rebates to the poor in hopes of spending ourselves out of recession was the final idea. This is the idea that Congress and King George embraced. The idea is genius. Mail out checks from the government's checking account that is $9 Trillion in overdraft to all of the public who earn under a certain amount and they will spend it on Chinese imports that will ensure that the Chinese loan us more money with which to back the loans that the Chinese will have to cover for the printing of the money that was sent out to the poor people. I like that one the best.

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Mike Folkerth is the author of "The Biggest Lie Ever Believed" and is not your run-of-the-mill author of finance and economics. The former real estate broker, developer, private real estate fund manager, auctioneer, Alaskan bush pilot, (more...)

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