Hypocrisy in Spades

I am one who has never been afraid of he debt. You know one of those crazy liberal tax and spend. The operative word in that statement is TAX. Increasing the debt in times when we need investment whether in a recession or when we need to upgrade our infrastructure for the future is quite normal and what we should care about is that it does not overly raise interest rates or spur inflation if we print money. Our present debt has done neither and with corporations fat with cash, borrowing, government versus the private sector, is not an issue. So debt is a relative term, and a necessary evil of investment in the future. The question is how much debt and remember debt is meaningless as a number until you compare it to GDP.

Okay, but our Republican friends who claim that debt is the devil just cut massive taxes for the wealthy. The Stock market is quite happy and President DFF waves the flag of how he, the biggest DFF in the room, has finally given us an economy that can grow (it already was and has been since 2009). But here is the thing, just like in the Bush days before the big crash, we got lower taxes and spend, spend, spend. Then we had the crash in 2008. Well here we are again. This is the Treasury Departments forecast for this year on our deficit because of the decreased tax revenues of the tax cut:

Now there are several things to note here. In 2009 it really spiked after who again wrecked the economy? Republicans. All that spending was to save the banks, activate the safety nets for all those who lost their jobs, and a small stimulus package to try to get the economy going again. Do you remember where the Stock Market Dow Jones was then, the Holy Grail of Republican metrics? $6500±. Note also that our deficit has steady dropped and then the spike for the Tax cut. Funny President DFF did not mention this in his State of the Union. Where is all the supply side new revenue? Non-existent. Sadly running up the debt to make rich people richer is a much different thing than running up our debt to invest in our future (infrastructure, education, healthcare). Oh and on that liberal tax and spend thing. Yeah, if you want to spend, and a tax cut is spending, you have to tax to afford it. You go there Tax and Spend liberals/progressives. Meanwhile the fear the debt Republicans are historically famous for running it up.

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