Great analysis by Lisa Longo on her blog:
“Economic theory is complex. My macroeconomics professor loved to use the “guns vs. butter” analogy. Does a country build its economy by helping the citizenry (supply butter) or by protecting itself (supply guns)? The current argument over whether to raise the debt ceiling and deficit has the same feel to me.
Take the pithy patter that falls from Sarah Palin’s mouth, “To have a balanced trade arrangement with other countries across the world so Americans can have our jobs, our industries, our manufacturing again. And exploiting responsibly our natural resources. We can do that again if we make good decisions.” (emphasis added)
Do you really think she understands the environment, let alone economics? Is there any way to exploit something responsibly? Here is the definition of the word exploit:”