After putting up my previous post What So Proudly We Hail, I found The Weak Economy and Deficit Reduction: Deniers and Terrorists.
The folks making economic policy in Washington are getting ever more resistant to evidence. As we approach the sixth anniversary of the downturn with no end in sight, the nation has been treated to the perverse spectacle of our Treasury Secretary celebrating the sharp drop in the deficit.
This is a bit like celebrating a sunny day in a region suffering from drought. In an economy that is suffering from lack of demand, as is the case in the United States today, smaller deficits are bad news. They mean less demand, slower growth, and fewer jobs.
Actually I thought that not voting for Mitt Romney would some how stop Mitt Romney policies from being touted by our President. Even the fact that President Obama does not have to run for office anymore is not helping him do the right thing instead of doing the profitable thing. Maybe he has big dreams for his income after he leaves the Presidency. We know that when the rich have many factors of 10 more wealth than even a President, that the amounts offered in bribery can be very powerful.