Economic Education

This article proves that bureaucrats lack a precise definition of proficiency. The fact that 12th Graders could recognize the obvious solution to simple Problems might not exhibit great economic skill. I did not, but could have, organized a Spread Sheet table for the Cost of feeding cattle when I was in the 8th Grade. Was it easy to do? Try it using 3.7 lb. of Protein and 6lb. of bulk Hay for each pound of Gain, Corn at $4/ bushel, Hay at $47/ton–desired End 300lb. of Gain in 95 Days. Hint: Corn=about $5.23 a Hundredweight.

David Leonhardt presents a good article on why Preventive Health Care will not cut Health Care Costs substantially. The Reality of the situation is that Preventive Care is only a Time Delay function, and an expensive one. People are all subject to the same illness, and without Accident or serious Injury (both expensive in themselves), will age to the point where they will be afflicted by the same illness as all others. The real Problem works out in the final analysis to a Question of how much dedicated Care We are willing to allocate per person, whether on a Universal or Selective basis.

George W. Bush promises a Veto on any Congressional measure which would constitute a Tax increase. He may not recognize the full Content of his economic message. He has validated a program of increasing national debt, as current Tax revenues do not cover the already passed Spending measures. This is not holding down Government Spending. He has taken no action to forestall the COLA system of most Federal programs, thereby insuring that Government Spending will go up while Tax revenues are static. He has never advocated, nor has any of his potential Successors, any systemic program for reducing the huge increase of Debt which his administrations have generated. His basic Statement simply established that he would use his Veto power, in conjunction with his political support in Congress, to insure that a defective Tax policy would remain in place throughout his Operational sphere.

The degree of honesty involved in the Occupation in Iraq might not be valid in a Post about Economic Education, but then again, it could have extreme relevance. The Supply of the Military Mission in Iraq probably stands as the most-expensive economic product purchased by the American People in the Bush administration. The veracity of the Baghdad Diarist directly challenged the quality of that Product. The Results of the Army Investigation is overwhelmingly likely to have been dictated from the Top down. There is always the potential for False Advertising in any economic endeavor. lgl