This is a cherry picked example. Too many people dont know (nor really care) about the distinction between the national debt and the deficit. Also attributing the decline in the deficit to Obama or to his administration would be specious ... given that the Congress has played a major part in it. Worse than all of that this line of reasoning obscure rational discussion on the substance of the related policiy issues. In fact we should be running at a higher deficit now, accumulating national debt at a higher pace, during an economic recovery than we would be during a boom in the economic cycles. The fact that we arent doing so is, in fact, a major policy FAILING and one for which the BLAME should he squarely placed on the GOP (abetted by Fox News and its ilk). Stimulus spending on national infrastructure would be of lasting benefit to the entire country and to the world at large. This is in stark contrast to the harm done to our populace, our nation, and the global populace and economy that has been done by the sorts of deficit priorities which were enacted and executed under Republican administration (war and international intervention). Those policies wiped out a surplus and rocketed the debt to new heights. (Note that the surplus, for which former President Clinton takes so much undeserved credit, was somewhat inflated and illusory anyway. It was buillt on a set of reckless financial regulatory policies which were enacted with bipartisan political support, motivated by financial insiders, enabled by widespread ignorance among the citizenry, and ultimately resulting in the financial collapse of 2007. The same degenerate levels of public discourse and media coverage that I decry here was a significant factor in sowing the seeds of the Geat Recession).
Posted on: Mon, 08 Sep 2014 21:25:59 +0000
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