The statist-biased, lame stream media keep tolling the bell that deficits are good for the economy. One economist admonishes that it is “necessary for government to run big deficits” and that Obama should educate the public what all budget experts know — that we do not have a chronic deficit problem. Then there’s this gem, by John T. Harvey, contributor to Forbes, “Why You Should Learn to Love the Deficit: Federal Budget Fallacies,” that preaches “nothing could be more foolish right now than policies that reduce government spending or increase taxes.”
The holy grail of statists is government spending: the more spending, the better, because it grows government. They really believe government can spend its way out of debt and a gloomy economy. Millions of Americans are unemployed and the Bureau of Labor Statistics oddly does not count the millions who have dropped out of the system altogether.
Federal-budget-fallacy spokesman Harvey has the solution to put Americans back to work. He says, “The government can play a useful, indeed vital, role. They can … employ the unemployed as soldiers, sailors, airmen, marines, teachers, firemen, police officers, etc.” What he really means is big daddy government comes to the rescue and coerces unemployed Americans to work in jobs they may not have the background, desire or ability to properly fulfill. To statists, government is always the solution.
What’s the solution to our unemployment problem that doesn’t involve growing government? Solve the budget deficit. There are two ways to address the budget deficit: cut government spending and/or raise revenue (notice I said “revenue” not taxes). It’s so simple that a college student could figure it out.