May 22, 2012

Politicians' Lies Catch Up To Reality Creating Chaos

[From article]
Eventually, all these long-run problems can catch up with the wonderful-sounding lies that are the lifeblood of welfare state politics. But there can be a lot of elections between now and eventually -- and those who are good at political lies can win a lot of those elections. As the day of reckoning approaches, there are a number of ways of seeming to overcome the crisis. If the government is running out of money, it can print more money. That does not make the country any richer, but it quietly transfers part of the value of existing money from people's savings and income to the government, whose newly printed money is worth just as much as the money that people worked for and saved. 

http://townhall.com/columnists/thomassowell/2012/05/22/big_lies_in_politics
 Big Lies in Politics
Thomas Sowell
TownHall.com
May 22, 2012

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