Thursday, February 24, 2011

Meet the Press: Hour of Agony

I listen to the crap on the Sunday morning talk shows, and everybody is asking how we are going to balance the budget, or avoiding clear answers to that question.

I find it extremely frustrating. All of 'em think we have to cut spending to balance the budget. They have the arithmetic on their side, of course: If A is less than B, then A minus B is less than zero, and "less than zero" means deficits.

I find it frustrating because it overlooks things I talk about. Important things. It overlooks monetary imbalance and the reliance on credit.

If you take the money out of the economy and expect everybody to use credit, then we are gonna have a lot of debt. This is what economic policy has done for 60 years.

This is why we are unable to balance the federal budget: Because you cannot solve problems like "monetary imbalance" and "the excessive reliance on credit" with budget cuts and/or tax increases. The simple arithmetic, sound as it is, is completely irrelevant to the economic problem we face.

But we have thick-headed, pushy, Sunday-morning hosts like David Gregory pressing the issue of what to cut and what, specifically, to cut, and what, exactly, is on or off the table. And we will never solve the economic problem until we stop focusing on such irrelevant crap. Excuse my French.

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