The Inherited Deficit Spending Problem

Here is an interesting item left over from yesterday's news....

Apparently, the administration is complaining that deficit spending is a big part of the reason the economy is where it is today. (Partially true, although the economy is much more complex than that.)  

The head of the National Economic Council, Larry Summers, said "The situation the president inherited of nearly $1 trillion deficits, before he did anything, came at a time when it was a Republican President and a Republican Congress that were making the decisions ...  (The President) ... is making substantial cuts..."

So let me get this straight.  Deficits of one trillion dollars brought us to the point of economic disaster. But increasing those deficits to $4 trillion or higher will bring us out of that same economic disaster. And tripling or quadrupling the deficit spending is "making substantial cuts."

Asked about Republican criticism of the budget plan, Summers also said this (sarcastically), "We'd love to see (the Republicans') concrete alternatives that get closer to a balanced budget."

No they wouldn't.  The Republicans have proposed plans that get closer to a balanced budget.  They call them "more of the same."  A Republican plan wouldn't increase the federal government near as much as the administration wants.  

Face it.  This administration cares NOTHING about deficit spending.  They believe they can spend their way to socialism and potentially prosperity.  But they really don't care much about prosperity.  What they really want is socialism.