I have just finished watching the Republican Nominee for Vice-President speak. If you will allow me, for the moment to ignore the fact that he repeated the same hyperbole and misrepresentations that his party has been trying for MONTHS now, I would like to ask: What makes people say that he is such an economic whiz-kid?
He seems to have the same problem that the TEA Party does in that he fails to see that there is good debt and there is bad debt. Good debt is that which appreciates or enables you to eradicate bad debt. Bad debt is that which depreciates or which is used to acquire non-essentials and consumables.
Good debt is the debt you acquire buying a house or getting yourself a better job. Bad debt is taking a vacation on your credit cards. Good debt is the government investing in infrastructure and education – those things that will pay for themselves over time and will enable the economy to move forward. Bad debt is the government giving HUGE tax cuts to people so rich that they can't spend what they have.
Not that I have anything against the wealthy – I aspire to join them some day. The problem is that when the government should be getting money into the economy and circulating, giving massive tax cuts to billionaires just puts it into off-shore banks where it represents a drain on the available cash in the economy.
So, it's not just that he is repeating the idiotic blather about how the Healthcare reform. Nobody has ever told me why reducing the anticipated $716 billion in growth to pay to make the processing of healthcare claims more efficient is "theft." And taking that same $716 billion and giving it (in the form of vouchers) to health care companies with NO mechanism to actually control the cost of health care is improving it! It must be the same Voodoo Economics that has failed to work since the '80s.
De-regulation and giving the keys to the treasury to corporate America is exactly what got us into this mess in the first place! And please! Quit taking the "you didn't build that line out of context!" Because, it makes sense in a different context as well…
When considering the economic dungeon we seem to have been locked in since the previous president borrowed MASIVE amounts for two unpopular and unnecessary wars, I can only think one thing: "Yes, Republicans, you're right! You DID build this!"
Wherever you are today use your own brain and don't let a party tell you how to think!