The media, including even FOX Business News, are telling us that the U.S. economy will grow at a rate of 3% this year.
But if we do some basic mathematics - which is not quite up to par for the new Common Core curriculum - we can ascertain the following:
1) the current GNP is about $17,000,000,000,000;
2) the Fed, through Quantitative Easement, is going to print/digitize
and infuse about $1,000,00,0,000,000 into the economy over the
coming year, which equals about 6% of this year's GNP;
3) the Federal government is planning to borrow $600,000,000,000
for the coming fiscal year, which equals about 4% of the current
4) Thus, by Quantitative Easement or by the incurring of additional
debt, our nation will "generate" an additional 10% into our
economy. Yet the GNP will only grow by 3%.
5) It seems then, that what we will actually be witnessing is a 7%
contraction of the economy over the coming year, not a 3%
growth in the economy. And yet our "experts" call this a recovery.
Sadly, in a nation that continues to value virtual reality over real virtue, such basic math does not matter. As long as we can continue to legalize and subsidize vice, the parasites of our society, who vote for a living, will be able harness their resentments to ensure that the government will continue to tax and harass the patriots, who work for a living, to ensure the ongoing increase of the subsidies needed to feed and to expand their addictions.
As one bumper sticker put it, "We are so screwed up that we need God as our Savior".
Rev. Thomas Collins is Spero columnist and a Catholic priest in the service of the people of Virginia.
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