Tim Geithner, who apparently knows less about economics than Paul Krugman, has a bright idea on how to solve our budget woes. Raise Taxes. That’s it. Because it would be “irresponsible” to cut spending.
Let me think of my own personal budget like Geithner thinks of the federal budget. Let’s say I was a moron and got so far into debt even if I didn’t have monthly expenses (no rent, no food, no electricity or phone bill) it would still take over a year to repay my debt if I spent every single dime I made during that year on my debt (because you will remember that our national debt is almost a trillion more than our 14 trillion GDP). Now if I was dumb enough to get in that position (I’m not, I freak out if my debt gets near 20% of my yearly income) what would be the intelligent thing to do? Now you might think the intelligent thing to do would be to cut your expenses at least enough that you are paying enough of your bills to cut into the principle of your debt. You might even be foolish enough to think that if I were in that position I should cut up all my credit cards and make sure I don’t take on any more debt. However, you are clearly not as wise as Tim Geithner who would recommend that I not only NOT cut my expenses but that I spend more money and go further into debt. Truly Tim is wise beyond the knowledge of us mere mortals. And how will I deal with the fact that I am even further in debt? Well, according to Tim I just need to make more money! Because apparently it grows on trees. But there’s a problem, I can’t get more money. Why? BECAUSE TIM GEITHNER WANTS TO RAISE MY !*&%ING TAXES!!!! You know if the economy is slowing down, of course raising taxes and giving less money to people is of course the greatest idea ever. And pumping more money into government projects and government jobs which have been proven time and time and time again to be nothing but a drain on the economy is of course not going to destroy it further.
To anyone who is not lobotomized the answer is clear and obvious. Massive cuts to all of these bullshit programs. To anyone who isn’t so self-centered and hedonistic as to have even a mild concern for others they would say start with the programs that they are taking money from because while a cut to what they use may hurt a little, the entire U.S. economy going into a full on depression is certainly going to hurt everyone even more.
But a truth this obvious is clearly beyond Tim Geithner and his boss, whom, as it is clear from their understanding of economics, if you added their IQ’s together you would still end up with a single digit.
You want to talk taxes after we start cutting, that’s a discussion any reasonable person would be willing to discuss…but our rampant and psychotic spending has to be dealt with first.