Taqiyya: The Islamic doctrine of religious deception.
The latest from Ayatollah Paul Krugman, the Economics Imam of Princeton and Liberal Cleric of the NYT:
What if they balanced the budget and nobody knew or cared?
O.K., the federal budget hasn’t actually been balanced. But the Congressional Budget Office has tallied up the totals for fiscal 2014, which ran through the end of September, and reports that the deficit plunge of the past several years continues. You still hear politicians ranting about “trillion dollar deficits,” but last year’s deficit was less than half-a-trillion dollars — or, a more meaningful number, just 2.8 percent of G.D.P. — and it’s still falling.
So where are the ticker-tape parades? For that matter, where are the front-page news reports? After all, talk about the evils of deficits and the grave fiscal danger facing America dominated Washington for years. Shouldn’t we be making a big deal of the fact that the alleged crisis is over?
Well, we aren’t, and once you understand why, you also understand what fiscal hysteria was really about.
Far from celebrating the deficit’s decline, the usual suspects — fiscal-scold think tanks, inside-the-Beltway pundits — seem annoyed by the news. It’s a “false victory,” they declare. “Trillion dollar deficits are coming back,” they warn. And they’re furious with President Obama for saying that it’s time to get past “mindless austerity” and “manufactured crises.” He’s declaring mission accomplished, they say, when he should be making another push for entitlement reform.
All of which demonstrates a truth that has been apparent for a while, if you have been paying close attention: Deficit scolds actually love big budget deficits, and hate it when those deficits get smaller. Why? Because fears of a fiscal crisis — fears that they feed assiduously — are their best hope of getting what they really want: big cuts in social programs. A few years ago they almost managed to bully the nation into cutting Social Security and/or raising the Medicare eligibility age; they even had hopes of turning Medicare into an underfinanced voucher program. Now that window of opportunity is closing fast.
But isn’t the falling deficit just a short-term blip, with the long-run outlook as dire as ever? Actually, no. Falling deficits right now have a lot to do with a strengthening economy plus some of that “mindless austerity” the president condemned. But there has also been a dramatic slowdown in the growth of health spending — and if that continues, the long-run fiscal outlook is much better than anyone thought possible not long ago. Yes, current projections still show a rising ratio of debt to G.D.P. starting some years from now, and uncomfortable levels of debt a generation from now. But given all the clear and present dangers we face, it’s hard to see why dealing with that distant and uncertain prospect should be any kind of policy priority.
So let’s say goodbye to fiscal hysteria.
OBAMA CUT THE DEFICIT!!!
LET US REJOICE!
Not so fast, Sparky.
Uncomfortable levels of debt a generation from now? Like 20 years from now when I’m a senior citizen and my grandkids are young adults? Isn’t that some fucked up shit to do to them?
There is a small bit of data missing from Krugman’s article. He points out that last year’s deficit was “less than half-a-trillion dollars — or, a more meaningful number, just 2.8 percent of G.D.P.” as if that is wonderful news. According to my meager math skills, half a trillion dollars is 500 BILLION DOLLARS.
There are only about 300 million people in this country and each billion is 1000 million so that comes out to about $1,666.66 of NEW DEBT for every man, woman and child in the nation.
And that was just for last year. As of yesterday, THE NATIONAL DEBT IS ALMOST 18 TRILLION DOLLARS!
I don’t know about you, but I find that level of debt very uncomfortable.
Paul Krugman is not some ignorant Prog mindlessly repeating Democrat talking points. He has mega degrees and awards in economics. He even teaches that shit. He is one of those people we call “experts” because they know more about this stuff than people like you and me. I’m no expert in economics, but I know bullshit when I see it.
Here is the truth: Big Government Liberalism (aka “the Blue Model”) is unsustainable. It isn’t failing, it has already failed. The only thing keeping it afloat is massive levels of government debt. Krugman knows this.
I guess that liberal doesn’t have much of a conscience after all.