The Republicans have been hawking a doozy of a lie for several years now, justifying their passage of massive tax cuts without offsetting them with spending cuts. Their economic fairy tale envisions a world where tax cuts always pay for themselves, and the debt incurred in the process just gets tossed down a hole that nobody will ever have to pay for because the economic growth fairy will make it all go away.
Mitt Romney's campaign talking points buy into that myth, hook, line and sinker, and President Obama appears to be responding by using one of the Democratic Party's own fairy tales as a pillar of his campaign. It's summed up nicely in this line from a speech he made on his weekly radio address last Saturday:
"...I've called on Congress to take the money we're no longer spending at war, use half of it to pay down our debt and use the other half to rebuild America..."
The ironic part of this is that the Democrats have been railing against this war spending for a years, especially the far left, partly because of how it's all debt. Our federal budget has to borrow even without war spending, and every penny we've spent on the wars in Iraq and Afghanistan is borrowed money as well, adding directly to the national debt.
We didn't raise taxes to pay for any of the war making we've been doing over the last decade or so, we actually lowered taxes, and unlike every other post-war period in our history, we haven't made steps to start paying down that debt now that the wars are winding down.
Not only that, but Obama and company wants to make it even worse. Now that we're going to be borrowing billions less in Afghanistan and Iraq, somehow we can magically use money we're no longer borrowing to pay off debt, and use other money we're not borrowing to "rebuild America".
Back here, outside of the Obama campaign's fantasy talking points land, borrowing less money means you add less to debt... not that you can magically pay off debt without actually, you know, spending less than you bring in in tax revenue. And taking part of the money you are spending less and... spending it... adds to the debt that Obama and company says they're going to pay down.
If the Republican myth is voodoo economics, this is parlor trick "magic" economics. That economic growth fairy, that helps the Republicans make the debt incurred by lowering revenue and continuing to spend go poof, seems to be working both sides now.
The really sad thing about this is the left is going to eat this garbage up just like the right has with their lies about tax cuts not adding to the debt. Like so many other things, it'll rally the base and just pile on another few dozen billion dollars that they're stealing from the next generation, like candy from a baby.
I've grown to like the term 'fiscal child abuse', since that's really what it is. The debt storm will come later in my adult life, but it'll really hit the kids in school now, and those younger than them, the hardest. The charlatans in office, Obama and Romney grand poo bahs included, are going out of their ways to make the economic futures of their kids significantly worse.
This reminds me of a quote...
"A politician thinks of the next election. A statesman thinks of the next generation."
- Benjamin Disraeli
At the root of these myths are professional liars that know exactly what they're doing. All they care about is fooling enough people with their lies to get them into office, and/or keep the opponents out. Go to party shindigs and sidle up with a drunk political professional who's high enough up the totem pole to know how it really works and you'll often hear them admit that it's all lies, but that their lies are less damaging than those of the other side.
Supporters of Romney and Obama often ask me why I don't accept what they think I should see as a lesser evil. I have several reasons, but one of the bigger ones is I actually have standards. People that lie with such ease, push agendas that steal from the future to bribe people into voting for them now and sell our future down the river for short term political gain... my question is why YOU have such low standards that you're willing to vote for people like Obama and Romney.