Fanning The Flames Of Deficit Hysteria?

An Obama-aligned, progressive, political action outfit called “Campaign for America’s Future” (CAF) pumped out a mass email this morning.  It seems they are not pleased with CNN’s plan to run a movie about the federal deficit called “I.O.U.S.A,”

Astoundingly, CAF objects to what they call “fanning the flames of deficit hysteria.” The email reminds the progressive faithful that they “voted for an active government to invest in our future,” and calls on Obama supporters to complain to CNN about devoting airtime to “deficit crazies.”

CAF wants CNN to give equal time to so-called economists,

who are urging our government to use deficits today to invest in long-term prosperity.”

But today’s deficits are not buying anything that will contribute to “long term prosperity.”  Today’s deficits fund today’s entitlement payments to individuals, today’s bailouts of companies and financial institutions to save them from the consequences of their own bad investments, and thousands of petty little subsidies to projects owned by the politically connected.

In the future, the same entitlement programs will still require funding, along with the massive new health care entitlement Congress just created.  And, since Obama and the Democrats have now made “too-big-to-fail” explicit national policy, another round of bailouts every few years is virtually guaranteed.

The Obama Administration plans at least another decade of oceanic annual deficits, each one larger than all seven Bush deficits combined.  If critics if this catastrophic policy are to be labeled “deficit crazies” then Liberty Works proudly wears that label as a badge of honor.

5 Comments so far

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