Posts Tagged ‘government spending’
Well, it was quite a debate. We laughed, we cried…we winced…we wondered “Did Obama really let that BS stand?”… We heard some surprising news from Mitt Romney too. It turns out that what he’s been saying all along about his tax policy was incorrect! Mitt Romney is going to cut everyone…
Did you hear the news? In an abrupt about-face, republicans confess that Government Spending does, in fact, create jobs! Wow, after all that back-and-forth, right? After all that tooth-and-nail, no compromise, tax cuts are the only route to job growth BS. Now we can finally get some things passed!
So, it turns out only government spending on defense is included in this epiphany. Any other government spending – unemployment benefits, job training programs, education – does absolutely nothing to create jobs.
Why the sudden interest? Have you heard of the Debt-reduction Super-Committee? Its a bipartisan group of congressmen (and women) tasked with reducing government borrowing by $1.5 trillion or more over the next ten years. If agreement isn’t reached by the November 23rd deadline, across-the-board cuts of $1.2 trillion will automatically trigger, with the lion’s share taken out of defense and medicare. Democrats on the committee have offered a combination of (about 2/3) spending cuts and (about 1/3) revenue increases, far to the right of other bipartisan plans. Republicans have offered a combination of spending cuts and…that’s it. 100% spending cuts…just not to defense. Because THAT leads to job loss.
It reminds me of the republican screaming about Obama’s stimulus package: how it will ruin the country, how it was nothing but a failure in the end, and, according to former GOP Presidential front-runner Rick Perry, didn’t create one job. Never mind that the stimulus actually did create lots and lots of jobs: somewhere between 1 million and 2.9 million as of last June, according to the non-partisan (unless you’re a republican) Congressional Budget Office. Its true, these numbers are disappointing when compared with Obama’s rosy, pre-Stimulus predictions, and they are certainly not enough to right the economy, with the unemployment rate still hanging tough at 9.0%. Maybe it wasn’t big enough.
Oh, right…the hypocrisy. Well, after vilifying it and the President, then voting against it, these same republican congressmen were secretly reveling in its benefits, begging Obama to divert Stimulus funds to their districts, and shooting photo ops of stimulus-funded projects in their home states…
Well, at least we can finally agree on something. Cutting government spending will lead to job loss.
Now, any bright ideas for increasing revenues?