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http://blogmaverick.com/2011/08/10/an-i ... o-discuss/" onclick="window.open(this.href);return false;

Good read here, IMO.

He's right on a lot of points, most of which have been raised here in bits and pieces.

For example - I completely agree, and have said so in the past, that we don't have a borrowing problem. We have a spending problem. We get zero or negative return on most of our investments because of poor oversight and the investments we do generate gains on are ones that people say Government shouldn't be involved in in the first place (i.e., TARP).

Now, one can argue that return cannot only be measured in financial terms (the same argument, BTW, we make against athletic naysayers who call football budgets wasteful), but I challenge anyone to find (1) a better way to measure return and (2) projects that would still break even if considering intangible returns.

danefan wrote:He's right on a lot of points, most of which have been raised here in bits and pieces.

For example - I completely agree, and have said so in the past, that we don't have a borrowing problem. We have a spending problem. We get zero or negative return on most of our investments because of poor oversight and the investments we do generate gains on are ones that people say Government shouldn't be involved in in the first place (i.e., TARP).

Now, one can argue that return cannot only be measured in financial terms (the same argument, BTW, we make against athletic naysayers who call football budgets wasteful), but I challenge anyone to find (1) a better way to measure return and (2) projects that would still break even if considering intangible returns.

Word.