Sunday, January 27, 2013

Kelly on debt

This is a copy of a comment I made on the PG website on today's Jack Kelly Column "Dance of the debt ceiling: Going through it wouldn't be as bad as people think"

If Jack Kelly had been remotely fair in this column, then I would be more prepared to accept some of his conclusions. It is a matter of record that George W Bush publicly stated that the (Clinton) was the government keeping the public's money. He explicitly and on purpose unbalanced the budget. He cut revenues by cutting taxes, he allowed Congress to spend like drunken sailors, he ignored the coming financial crisis. And yet Jack Kelly wants to label Obama a hypocrite for speaking out against Bush's spending.

Of course some on this thread will say that I am a hypocrite for defending Obama. Yet Obama's deficit was caused by dropping tax revenues (caused by the financial crisis and the contraction of the economy), automatic stabilizers like unemployment compensation, Medicaid and SNAP (food stamps for those of you who don't follow politics) and of course continuing to fight (when he cam into office) two wars started by George W Bush but kept off the books to make his administration look better. The stimulus saved or created up to three million jobs according to the CBO, so it was clearly a good investment. And otherwise conservatives can tell us which unemployed people should become homeless and starve.

Right now borrowing costs are still effectively negative, but Jack Kelly wants to cut programs that help the poor and cut taxes for the rich. Just like every other Republican/conservative/Tea Party type.

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