Perhaps the greatest sign that the “debt debate” in Washington lacks substance or any real concern about the deficit is that there is never an actual objective goal, like a deficit that is some percent of GDP by 2022. Instead the calls seem always focused on demanding a single grand bargain deal for “$4 trillion in reductions.” This oft repeated call rarely acknowledges that without an agreed baseline this number is meaningless, and most bizarrely ignores the simple mathematical fact that the same level of reduction could also be achieved through a series of small deficit-related bills.
|By: Scarecrow Saturday June 2, 2012 10:00 am|
Leave it the Washington Post’s Mr. Pinocchio, Glenn Kessler, to misinform readers again by providing useless, irrelevant information and then misreading it. Today’s contribution to the dumbing of America is a chart the wizards of WaPo created to compare the job creation performance of Mitt Romney with that of President Obama. What?
Now the first thing you must be asking yourself is, how is such a comparison even possible?
|By: Dean Baker Tuesday July 12, 2011 11:30 am|
The major sale of sale of bonds would displace other bonds that the United States might want to sell in the financial market. This would lead to higher interest rates on U.S. debt. Therefore Mr. Peterson is contributing to our deficit problem.
That may seem more than a little silly to readers, which it is. Yet, this is the same way in which Kessler says that Social Security will be creating a fiscal burden.