Carney: 'Deficit Reduction Is Not a Worthy Goal'

Weekly Standard ^

[Sub-Driver]

Carney: 'Deficit Reduction Is Not a Worthy Goal' Daniel Halper January 10, 2013 10:55 AM

White House spokesman Jay Carney said yesterday that "deficit reduction is not a worthy goal onto itself":

"Most importantly because deficit reduction is not a worthy goal onto itself," said Carney, talking about government spending. "This is all about making our economy stronger, making it more productive and allowing it to create even more jobs. That is the most important thing when it comes to economic policy as far as the President is concerned."

U.S. debt is estimated to be $16,432,659,028,067.50.

[William Tell]

I really like the comparison I have seen between the government's financial position and that of a single family with similar finances.

Here's the summary by Dave Ramsey:
If their household income was $55,000 per year, they’d actually be spending $96,500—$41,500 more than they made! That means they’re spending 175% of their annual income! So, in 2011 they’d add $41,500 of debt to their current credit card debt of $366,000!

The Obama administration is telling that family, which is going deeper into debt every year, not only that they needn't stop running deficits, but that even decreasing the rate at which their debt is piling up,is not a worthy goal. They should just keep digging themselves into a deeper hole, hoping that some miracle will bail them out.

This hypothetical family is heading swiftly into a hypothetical bankruptcy.

Our nation is heading swiftly into a real bankruptcy, and a degree of national upheaval never before even imagined.

[mrsmith]

Maybe if we called it "deficit redistribution"...