Tuesday, June 08, 2010

ECON 101: Democrats, Not Republicans, Are The Real Fiscal Conservatives.

OK, the Right has been putting out their "Tax and Spend" garbage about Democrats for a lot of years now.  But like most of the stuff that comes from the Right it has very little to do with, well actual reality, as you can see from the graph above.

Keep in mind that the hero of the Right and most Teabaggers, Ronald Reagan, is considered the prototypical model of the ideal president, no "Tax and Spender" was he.  Of couse, this is mythology.  Ronald Reagan was no taxer, he cut the taxes for the richest among us and left the rest of us to take up the slack.  But Ron was a spender, a bigtime, Hollywood Blowout kind of a spender.  He tripled the national debt and turned this country from the largest lender in the world into the largest debtor in the world

In order to cover new federal budget deficits, the United States borrowed heavily both domestically and abroad, raising the national debt from $700 billion to $3 trillion,[21] and the United States moved from being the world's largest international creditor to the world's largest debtor nation

So remember this when you see our teabaggin' friends out prostesting the socialists and yearning for the Reagan years.  BTW, those socialists that they're protesting against are us.

And Obama owns all the national debt now, according to the Right.  It's an interesting phenomenon that the Right only discovered the debt after Bush was out of office.  You can see by the chart below that Obama does own part of the debt.  But the choice was clear, either spend or enter another Great Depression.  And since those of us on the left have functioning hearts and brains, we opted to spend and we'll have to spend more if we want to generate the economy in order to create jobs.  I don't mean spend on Wall Street and Big Banks, but spend on the mainstreet level, spend on research for new job creating technologies, spend putting people to work fixing our crumbling intrastructure.  Or we could use the other side's model of letting the market sort every thing out.  If we did that, my guess would be that we would become a wholly owned subsidiary of China and that the Right would be first in line to suck up their new masters.

And now for someting completely different, 10 Lessons for Tea Baggers.


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I did not mean that Conservatives are generally stupid; I meant, that stupid persons are generally Conservative. I believe that to be so obvious and undeniable a fact that I hardly think any hon. Gentleman will question it.

John Stuart Mill (May 20 1806 – May 8 1873)