The Great Debt Deception

By MARC MEWSHAW  |  December 26, 2012

So, forget about spending less — Obama should be talking about spending more. He should concoct a fresh stimulus program. He could start with a public-works project to beef up the nation's coastal defenses against rising sea levels — a vulnerability Sandy laid bare all too painfully.

I wrote two months ago that it would be madness to let the economy go over the fiscal cliff, and I stand by that. But even madder than letting the economy dip briefly back into recession would be for Obama to bless a raw deal that sacrifices vital services to fix something — the debt — that ain't broke.

So, here's hoping that on the eve of 2013, Obama hangs tough on the fiscal cliff impasse. If he doesn't, we may just find ourselves on the slippery slope to Greece.

< prev  1  |  2  | 
  Topics: News Features , Politics, Medicaid, Obama
| More


Most Popular
ARTICLES BY MARC MEWSHAW
Share this entry with Delicious
  •   IMMIGRATION BY THE NUMBERS  |  May 16, 2013
    After many false starts, a convergence of public sentiment and political will has sped the country to the brink of comprehensive immigration reform. In purely economic terms, it's a no-brainer — one of those rare instances where a moral imperative neatly aligns with our national self-interest.  
  •   TRAMPLED BY A BULL MARKET  |  March 20, 2013
    The tailwinds behind the rally are largely illusory. Wall Street owes its bullish run to systematically pillaging our retirement funds.
  •   BOTTOM FEEDERS  |  February 20, 2013
    Last month, federal regulators pulled the plug on a wide-ranging review of wrongful foreclosures by 10 mortgage lenders at the heart of the 2008 financial crisis.
  •   CARD-CARRYING CONGRESS  |  January 23, 2013
    This year is just barely out of the crate, and already it's shaping up to be depressingly like last year.
  •   THE GREAT DEBT DECEPTION  |  December 26, 2012
    As the country hurtles, Thelma and Louise -style, toward the fiscal cliff, there's been a steady drumbeat of calls for the two parties to join hands in the name of "shared sacrifice."

 See all articles by: MARC MEWSHAW