Government is the gift that just keeps on taking and taking and taking. There is no rationale behind their actions other than they always have more ways to spend money than the money they have.
Now we glean insight into one of the so-called geniuses of government policy, Lawrence Summers, former Treasury Secretary and (by some) noted economist. In one of the most stupid statements ever issued by anyone, Summers revealed himself and his abilities. He is a Peter Principle paragon.
The absurd comment of the week goes to Larry Summer for his statements on the irony of the financial crisis.
“The central irony of financial crisis is that while it is caused by too much confidence, too much borrowing and lending and too much spending, it can only be resolved with more confidence, more borrowing and lending, and more spending. Most policy failures in the United States stem from a failure to appreciate this truism…”
Anyone who thinks the cure is the same as the disease (as Larry Summers clearly does) is incompetent (at best).
Lest this be considered unfair treatment of Mr. Summers, the following clip from George Bush is equally stupid:
