The Left Retains Faith in Deficit Spending
Tags: Make/Mine/Grow, Tax and Spend Liberalism.
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From The Nation:
Obama also spoke on how it will be crucial for the federal government to continue helping state and local governments facing deficits that are forcing them to slash jobs and services, and to make “investments in infrastructure, in education, in clean energy.”
“Now’s the time actually to make sure that we’re prioritizing properly and pushing even harder on that front,” said Obama.
It’s in vogue in DC these days to treat the deficit as if it is a sign of the End of Days. It seems the President was, in fact, significantly more rational in taking on job creation than the media coverage would have you believe.
One has to ask: spend what money? Where is there actual money to spend? Who can we really borrow it from? I don’t think our liberals are really grasping the fact of national bankruptcy. Even if one wants to believe that you can borrow via government and create net wealth, the fact remains that we are so far in the hole that no conceivable level of government-created growth will exceed the level of total debt repayment. If we were sitting with a balanced budget right now and/or little or no government debt, there might be something to be said for deficit spending – but that isn’t the case.
For just a moment, lets all realize where we are: we’re broke. It could very well be that our national wealth is less than it was 30 years ago, when you think in terms of what we make, mine and grow. But even if you wish to believe that our net wealth is greater than it was, say, 30 years ago you can’t escape the fact that we’re massively more in debt than before. Some calculations of total US debt reach $70 trillion dollars – if you count the unfunded mandates of Medicare, Medicaid and Social Security. This is not the time to spend more – it is time to create wealth and pay down debt.
Now, how do we do this? Lots of ways – but most importantly, not by increasing government debt. The best way would be to remove the obstacles to the creation of new wealth in the US – the wall of taxes, regulation and NIMBYism which essentially forbids us to use vast amounts of our land and materials for the creation of wealth. Remove these obstacles, and the seed money necessary to create the wealth will come pouring in – from both American and foreign sources. Once we start creating wealth, we can start paying off debt – and it is vitally important that we pay off our debt and never, ever allow ourselves to get in to this state again.
But our liberals don’t even want to listen to this – because they simply don’t understand what wealth is. When Obama said he wanted to spread wealth around he was thinking like a typical liberal – that the fake money we have in our wallets is wealth. Its not – its just money and its worthless as it isn’t backed by anything. You can spread trillions of it around and you won’t do any good – but allow someone to get to work making a new farm, new factory or new mine, and you’ll have created some new wealth.
We’re in for a very bad time, because Obama and his liberals really do seem to be bent on ever more spending. Each new dollar borrowed or printed just puts us further in the hole and will make it harder to get out. While the free flow of fiat dollars might pump up the economy and give some positive GDP numbers, it is and will remain nothing but smoke and mirrors. And it will come crashing down – I’m still expecting this around March, but it could go on for even a year or two from now. But the crash will come – and it will be catastrophic. Hopefully, we’ll have then learned our lesson.
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8 Responses to “The Left Retains Faith in Deficit Spending”
Caucus of Corruption
Again, the modern liberal looters were so concerned of the deficit during the Bush years.
Now, the concerns are gone and non-existent.
Now, we can spend our way to prosperity.
Now, we can give any entitlement to the moochers for their faithful vote.
Now, the deficit is of no concern, they will continue to tax the producers and not the looters – the ones most dependent on government.
The lemming, useful idiot moochers will go along and blindly support anything as long as their held out hands are filled with loot they have not worked for in any way, shape or form. They get it because they “need” it. The producers are taxed simply because the “have” it.
Typical and morbidly pathetic.
tired,
Don’t think this isn’t going unnoticed by lots of working Americans. I’ve been a political junkie for a long time — voted in my first general election in 1966. My wife and I have been to 2 Town Halls and 3 Tea Parties. Had I not been recovering from surgery, we would have gone on the 9/12 march on DC, but we have a number of friends who did. I’ve never seen the level of anger among the general population that we’re seeing now. And it spreads across a massive swath of the political spectrum that includes just about every demographic except the far Left and the hard-core welfare clingers. Although two of the leaders of the Tea Party movement in northeastern Indiana are black, I understand that, nationally, the movement has attracted few blacks. I think even that is going to change as unemployment among their ranks continues to skyrocket. If the Donks lose 10 or 20% of the black vote, they’re finished.
I think what we’ve seen in the last two election cycles (2006 and 2008) is not so much a belief that the Dems offered better solutions – they didn’t. They ran on “we’re not Bush”, and they got the masses to believe that nothing could possibly be worse than Bush. More and more people now realize that that was a lie. The message of “hope and change” was really one of “we hope we can fool you long enough to implement the radical change we have in mind.” Well, people are starting to wise up and realize how badly they’ve been scammed, and we aren’t even 1/4 of the way through BHOzo’s term. And there doesn’t seem to be ANY realization on the part of the Democrat leadership of the extent of the hole they’re digging for themselves.
Obamateur’s “new” jobs plan is to boost investment in our nation’s “infrastructure”. Remember that $787 billion Recovery act passed in February? Now we are REALLY going to get “serious” about infrastructure spending!
But let me remind you how that worked out for us, last time. Here is just a handful of different “shovel ready” projects that qualified as economic stimulus under Obamateur’s Recovery Act (well, someone else wrote it).
$5 million grant from the Department of Energy to create a geothermal energy system for the Oak Ridge City Center shopping mall in Oak Ridge, Tenn.Researchers at Penn State University received $1.57 million to search for fossils in Argentina
A liberal-leaning theater in Minnesota, In the Heart of the Beast, named after a famous quote by leftist leader Che Guevara, received $100,000 for socially conscious puppet shows.
The administration allocated $133 million to renovate the Edith Green/Wendell Wyatt Federal Building in Portland, Ore., by installing a vegetative facade of plantings to improve the building’s insulation.
$6 million went to the New York advertising firm Young & Rubicam to advertise the transition from analog to digital television, which created three jobs.
More than $2 million in stimulus funds that went to pay for new pipes to pump recycled water to the Sharp Park Golf Course, which the San Francisco City Council considered closing because of the threat it posed to the California red-legged frog.
Two million dollars in stimulus money went to build a replica railroad as a tourist attraction in Carson City, Nev.
A dinner cruise company based in Chicago received nearly $1 million in funds to combat terrorism.
Half a million dollars went to Arizona State University to study the genetic makeup of ants to determine distinctive roles in ant colonies.
$450,000 went to the University of Arizona to study the division of labor in ant colonies.
The State University of New York at Buffalo won $390,000 to study young adults who drink malt liquor and smoke marijuana.
The National Institutes of Health got $219,000 in funds to study whether female college students are more likely to “hook up” after drinking alcohol.
The University of Hawaii collected $210,000 to study the learning patterns of honeybees, and $700,000 went to help crab fishermen in Oregon recover lost crab pots.
And you still believe that these looters can adequately “spend our way” out of this recession? This all about making local constituencies (moochers) happy with their congressmen or senators (looters). It’s buying votes, pure and simple. Your children (producers, hopefully) will pay the bill for the immense debt we’re piling up so Democrats (looters) can buy votes and retain their power.
Exceptionally pathetic if you believe these looters.
The National Institutes of Health got $219,000 in funds to study whether female college students are more likely to “hook up” after drinking alcohol.
I would have done that one for a fraction of the cost — LOL!
I think what we’ve seen in the last two election cycles (2006 and 2008) is not so much a belief that the Dems offered better solutions – they didn’t. They ran on “we’re not Bush”, and they got the masses to believe that nothing could possibly be worse than Bush.
Bingo.
Now it will be the GOP’s turn to run on “we’re not Obama”. Let’s see if it works again.
Parker,
Really, though, wouldn’t you love to be able to get behind someone who was four-square for something that mattered to you — an meant it? I realize that negative tactics work, but, IMO, all that is is a sad commentary on our political system.
Tired
$6 million went to the New York advertising firm Young & Rubicam to advertise the transition from analog to digital television, which created three jobs.
This was hillarys advertising team that she owed (ta ta ) $6 million to after her failed run.
This was payment for what she owed,
paid by taxpayers out of the tarp slush fund….IMAGINE THAT!!
Ho hum—it’s just more of the same old same old in Obama’s America