Party Like It’s 2005
The housing bubble peaked in 2005. The bubble reflected a fiscal lack of reality built upon the greater fool theory, that there always would be another buyer foolish enough to pay more.
We now are on the cusp of passing a health care bill built upon a similar irrational foundation.
The Democrats presume that there always will be taxpayers and purchasers of U.S. Treasury securities foolish enough to fund the trillions of dollars in spending.
Been there, done that.
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