The Debt Perversion

Sunday 25 July 2010 - Filed under Dumbassery + Economy + Journalism

Debt, by definition, is what one accrues when one spends more money than one has to spend. Demotards and their friends at The Washington Post would have us believe that debt is what one accrues when one doesn’t make as much as one spends.

Although they have blamed Democrats for record budget deficits, most Republican lawmakers want to extend all of the tax cuts, adding at least $2 trillion over the next decade to the national debt. President Obama and senior Democrats want to extend the cuts only for families making less than $250,000 a year.

[. . .]

On Saturday, Obama pressed the attack in his weekly radio address, criticizing House Minority Leader John A. Boehner (Ohio) for urging repeal of Obama’s health-care initiative and vowing to “permanently keep in place the tax cuts for the very wealthiest Americans — the same tax cuts that have added hundreds of billions of dollars to our debt.”

[. . .]

Reluctant to take the political hit either for raising taxes or for increasing the deficit, Obama and Democratic lawmakers have postponed action on extending the middle-class tax cuts. Doing so would cost nearly $1.4 trillion through 2020, according to the nonpartisan Joint Committee on Taxation.

This language clearly pits spending as a government entitlement, and the burden of taxpayers to scratch that governmental itch. Basic fucking accounting holds that it is not a lack of income which determines the accruence of debt, but how much more one spends than one makes. In other words, not making money doesn’t add to debt, spending what you don’t have does. In their world however, it’s how much they spend that should determine how much they take, rather than how much we give determining how much they spend.

Democrats, I have five words and an acronym for you: I am not your fucking ATM.

2010-07-25  »  madlibertarianguy