Jump to content
To change color scheme, click on themes at bottom of page ×
RightNation.US
Sign in to follow this  
pepperonikkid

Obamatons lecture Howard Schultz about debt and the importance of leav

Rate this topic

Recommended Posts

pepperonikkid

Obamatons lecture Howard Schultz about debt and the importance of leaving such matters to them

https://www.americanthinker.com

By Monica Showalter

February 3, 2019

 

 

Article:

The Democrats just don't stop with Howard Schultz, do they?

 

The latest wave now, though, is particularly revolting, coming as it does from smug, self-satisfied, know-it-all Obama administration 'wonks.'

 

"America is not a company," [former Obama economic council head Jason] Furman, now a professor at Harvard University, told CNBC this week. "And in fact, many successful companies are much more leveraged than the United States," he said, adding that the present value of America's growth far exceeded its debt obligations.

 

Both Furman and former Treasury Secretary Lawrence Summers insist that it's time for Washington to end its "delusion" with debt reduction. In a
, the economists argued that large deficits are a function of falling revenues, rather than surging entitlement spending.

 

"More spending is not, by itself, something to be afraid of," they wrote, arguing that high levels of debt could be sustained in the medium-term, given that low interest rates mean borrowing costs are lower.

 

Oh what a pile of gobbledygook.

 

Anyone with common sense knows that excessive government spending on unproductive goals is a bad thing, not a good thing, for an economy. More money in government coffers means less money in private enterprise. Ask Venezuela what spending the company's oil earnings on welfare, pork shoveling and free stuff for Castro did to the country's economy, all the way into its exchange rate. Does 120,000% inflation sound nice? Do dictators packing up the nation's gold reserves for the flight out make good economic sense? Is spending like there's no tomorrow, ahem, 'sustainable'?

Full Story

Share this post


Link to post
Share on other sites
zurg

There are some seriously dangerous people out there.

Share this post


Link to post
Share on other sites
NH Populist

"America is not a company," [former Obama economic council head Jason] Furman, now a professor at Harvard University, told CNBC this week. "And in fact, many successful companies are much more leveraged than the United States," he said, adding that the present value of America's growth far exceeded its debt obligations.

 

What a crock! There's no way $370 billion a year in interest on the country's debt is spending taxpayer's money wisely. Especially when I remember Republicans showing the nation's debt headed for $15 trillion during their primaries before the 2012 election. Obamatons act as if the debt is fixed, when it's actually growing faster than the noses of Democrat talking heads.

Edited by NH Populist

Share this post


Link to post
Share on other sites
RedSoloCup

Wonks?

 

More like "wanks".

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...