My view of ECONOMICS
I can give you the basics of Economics in one word. "Greed". If you understand greed, you can understand how an economic system functions. Politicians and economists will try to cloud the issue with smooth formulas and "proven theories". Just remember this. Everytime something goes wrong, they come up with a new flawless theory that can explain why the last one failed.
Look at the economies of most countries. They all have deficits. Is this good? No!!!! How many years can you run your private economy in the red? Not 20+ years like they have in the US. When politicians say that they understand how the economy works, ask yourself why they have voted for a budget that runs in the red year after year. They have no reason to do the right thing and balance the budget.
Most economies in the world now use 20-30% of their total budget to pay off the interest on all the loans they have taken. I'm sorry, but, if I were in that kind of shape with my personal budget, I would file for bankruptcy. Think about it!
Most governments now are talking about balancing the budget. They are not talking about paying off their debts, they are often only talking about lowering the size of the deficit as it pertains to GNP. Remember that "Figures lie and Liars figure."