When a journalist asks a question, and the interviewee's answer begins with, "Look, the important thing is ..." you know they're not going to answer the question.
Do they think we're stupid? I think they do.
This morning Gene Sperling of the White House's National Economic Council was asked a question this morning on tv, and as soon as he started his answer "Look, the important thing is ..." and right away I knew to expect bullsh*t talking points to follow in leiu of an answer. Sure enough ...
Hey, it's free air time for campaigning. And they know it.
One of the talking points was that Obama has put in a "concrete backstop" and that we will see the debt begin to fall as a percentage of our income. (Yeah, that last part was hurriedly stated after a short pause.)
Of course that means inflation. We will pay the debt down in dollars that are worth much less than the ones we borrowed were. Our creditors will not be happy. Neither will our shopping carts.
An interviewee from the other side came on and said that what Obama really means is that our projected debt would fall by perhaps $4 billion, but our actual debt would rise by $8 billion. So we'll be $8 billion more in debt, but $4 billion less in debt than we thought we would be. That's not "falling" debt. Only in academia-land do we obfuscate a decrease in an increase trying to pass it off as an overall decrease.
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