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  | 
Related: This trickle-down stinks, What the health-care bill really means, LePage's secret bankers, More more >
  Topics: News Features , Politics, Medicaid, Obama
| More

Most Popular
Share this entry with Delicious
  •   KEEPING THE BANKS IN CHECK  |  August 08, 2013
    There is afoot a bipartisan effort to dust off a defunct law that could erect a sturdy guardrail against the systemic banking crises that nearly brought our country to ruin in 2008.
  •   THE PART-TIME EPIDEMIC  |  July 10, 2013
    When it comes to Obamacare, good thing Republican US Senator Susan Collins has the workingman's back. Or does she?
  •   FIXING THE MESS OF STUDENT DEBT  |  June 13, 2013
    On July 1, the interest rate on federal Stafford student loans is slated to jump from 3.4 percent to 6.8 percent. Luckily, the forces of common sense have an ace up their sleeve.
  •   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.

 See all articles by: MARC MEWSHAW